Oral Answers to Questions

Kelly Tolhurst Excerpts

Tuesday 19th January 2016 Commons Chamber

[Mr Osborne]

We have backed our manufacturers and exporters. We have cut corporation tax and other taxes that affect those businesses, and we have reformed UK Trade & Investment. As a result, the manufacturing sector accounts for a larger share of our economy than when I became Chancellor, but there is still a huge amount more to do. One thing I would say to the hon. Lady and the Scottish Government is that we want to work more closely with the Scottish Government on overseas trade missions, where we can promote Scottish businesses. We do not always get that co-operation, but we hope it will be forthcoming in the future.

[Kelly Tolhurst (Rochester and Strood) (Con)]

T4. Although I welcome the Government’s move towards digitisation of tax, a number of self-employed people and small businesses across my constituency, approximately 74% of which employ fewer than four people, have voiced concern about how quarterly tax reporting might have a negative effect on their human and financial resources, depending on their reliance on an accountant. What support will be provided to our small businesses to help them to adapt to the proposed changes?

[The Financial Secretary to the Treasury (Mr David Gauke)]

First, may I reassure the House that there are no plans for quarterly tax returns, as has been reported? What HMRC is considering is making greater use of digital technology and ensuring that information is provided to HMRC more frequently. My hon. Friend raises an important point about ensuring that businesses are supported as they adapt to new ways of record keeping, and HMRC is determined to do that.