(13 years, 10 months ago)
Commons ChamberT2. Many small businesses in Staffordshire Moorlands tell me that they have enough to deal with without the intricacies and complications of the tax system. Will the Minister provide more information to the House about how the work of the Office of Tax Simplification will help those small businesses?
My hon. Friend is right to raise the concerns of business. We have a complicated tax system and the longest tax code in the world. The Office of Tax Simplification will make a very useful contribution to assisting the Government to identify unnecessary complexity and finding areas of reform.
(14 years, 1 month ago)
Commons ChamberUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
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As I mentioned earlier, the intention of the OTS is to look at the existing stock of tax law, not to examine new proposals for tax law. On the patent box, as we announced in the Budget, the intention is to carry out a consultation on intellectual property and on how the patent box works, how research and development tax credits work, and how the controlled foreign company rules apply in that context. We will be carrying out that consultation in the autumn.
May I welcome the announcements about the OTS, particularly the appointment of John Whiting—a move that will be very popular in the industry? Does the Minister agree that by simplifying the tax code, the Government are reducing the opportunities for tax avoidance?