12 March 2008
Simplification Review: tax calculations and returns for smaller companies
Tax simplification enhances UK productivity and competitiveness and Government is committed to making it a priority when designing and reviewing tax policy, alongside ensuring sound public finances and fairness. Following the Budget 2007 reforms, the 2007 Pre-Budget Report launched a significant programme of tax simplification - setting out new principles, a package of reforms and three new simplification reviews conducted in partnership with business. Building on this, Budget 2008 makes a series of further announcements and these are set out in Chapter 3.
Budget 2008 announces a new simplification review which will look at how to simplify Corporation Tax calculations and returns for smaller companies.
Simplification Review: tax calculations and returns for smaller companies is available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
Media links
The online survey closed on 30 April 2008 but you can still contribute to the review by contacting the review team using the addresses below.
ctcalculations.simplification@hm-treasury.gsi.gov.uk
CT Calculations Review Team
HM Treasury
1 Horse Guards Road
London
SW1A 2HQ
Existing Tax Simplification Reviews
The 2007 Pre-Budget Report launched three tax simplification reviews and the Government announces today the initial outcomes and areas for future work, which can be found in Chapter 3 of Budget 2008. In addition, HM Revenue and Customs have published a detailed update on the review of anti-avoidance legislation alongside Budget 2008 and a further update in July 2008:
- Update on Anti-Avoidance Review March 2008 (HMRC website, will open in a new window)
- Update on the Anti-Avoidance Simplification Review July 2008(HMRC website, will open in a new window)
Similar updates on the VAT and Related Companies reviews were provided to stakeholders during December 2007.
The Government will provide an update on the progress of all four reviews at the 2008 Pre-Budget Report.
Confidentiality disclosure
Information provided in response to this consultation, including personal information, may be published or disclosed in accordance with the access to information regimes (these are primarily the Freedom of Information Act 2000 (FOIA), the Data Protection Act 1998 (DPA) and the Environmental Information Regulations 2004).
If you want the information that you provide to be treated as confidential, please be aware that, under the FOIA, there is a statutory Code of Practice with which public authorities must comply and which deals, amongst other things, with obligations of confidence. In view of this it would be helpful if you could explain to us why you regard the information you have provided as confidential. If we receive a request for disclosure of the information we will take full account of your explanation, but we cannot give an assurance that confidentiality can be maintained in all circumstances. An automatic confidentiality disclaimer generated by your IT system will not, of itself, be regarded as binding on the Department.
The Department will process your personal data in accordance with the DPA and in the majority of circumstances, this will mean that your personal data will not be disclosed to third parties.
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