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Extra-Statutory Tax

Volume 79: debated on Thursday 16 May 1985

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asked the Chancellor of the Exchequer if he will make a statement on the outcome of his review of extra-statutory tax concessions.

Yes. The Inland Revenue and the Customs and Excise will be issuing press releases giving information about extra-statutory concessions which have not previously been published. I am placing in the Library of the House:

  • (i) a copy of those press releases;
  • (ii) a copy of the existing Inland Revenue booklet IR1 listing previously published Inland Revenue concessions;
  • (iii) a copy of the existing VAT leaflet 700/23/84 listing previously published VAT concessions;
  • (iv) an explanatory memorandum on extra-statutory concessions generally.
  • The Customs and Excise press release lists non-VAT concessions already published in other Customs and Excise notices.

    A revised booklet IR1 incorporating the newly published Inland Revenue concessions will be issued as soon as possible. The VAT leaflet will also be replaced by a new publication, including both VAT and non-VAT concessions, as soon as possible.

    New and existing Inland Revenue administrative practices will continue to be subject to a regular twice yearly review to identify any which should properly be classified as extra-statutory concessions. The published list of concessions will be updated accordingly.

    I hope that the House will welcome this response to the debate which took place on the subject at the time of the last Finance Bill.