Economic Affairs - Fourth Report
Here you can browse the report which was ordered by the House of Lords to be printed 12 June 2007.
CONTENTS
Terms of Reference
ABSTRACT
CHAPTER 1: INTRODUCTION
CHAPTER 2: THE BUSINESS TAX REFORM PACKAGE
General description of the business tax
reform package
Simplification
Review of the links with large businesses
Administrative costs
Small companies
Capital allowances
Tax Credits for Research and Development
Consultation
International competitiveness
Investment and innovation
Fairness
CHAPTER 3: MANAGED SERVICE COMPANIES
Government Action
Is there an underlying problem not addressed
by this legislation?
The need for the MSC legislation and its
effectiveness
Impact on the Labour Market
Defining an MSC
Transfer of Debt Provisions
CHAPTER 4: PART 6 FINANCE BILL: REVIEW
OF POWERS, DETERRENTS AND SAFEGUARDS
Criminal Investigation: Outline of the legislation
Penalties for Incorrect Tax Returns: Outline
of the legislation
The Evidence: General
Is it right for powers and deterrents to
be introduced before safeguards?
The consultation process
The balance between legislation and guidance
The Evidence: Criminal Investigation Powers
Which HMRC officers can exercise these powers?
The powers for Scotland
Monitoring of how the powers are being exercised
The Evidence: Penalties for Errors
Definition of the categories of behaviour
/ Penalty levels
Appeal rights
Appeal procedures
Penalty position where agent acting
Drafting
CHAPTER 5: PART 6 FINANCE BILL: ONLINE
FILING AND ELECTRONIC PAYMENT
Mandatory online filing
Mandatory electronic payment
CHAPTER 6: CONCLUSIONS AND RECOMMENDATIONS
The Business Tax Reform Package
Managed Service Companies
Part 6 Finance Bill: Review of Powers, Deterrents
and Safeguards
Part 6 Finance Bill: Online Filing and Electronic
Payment
APPENDIX 1: THE FINANCE BILL SUB-COMMITTEE
APPENDIX 2: LIST OF WITNESSES
NOTE: References in the
text of the report are as follows:
(Q) refers to a question in oral evidence
(p) refers to a page of written evidence
The Report of the Committee is published in Volume I (HL Paper
121-I) and the Evidence is published in Volume II (HL Paper 121-II)
MINUTES OF EVIDENCE - VOLUME II (HL 121-II)
WRITTEN EVIDENCE - VOLUME II (HL 121-II)
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