Tax Reporting Requirements
Philip Dunne questions the Chancellor about the cost to businesses of complying with tax reporting requirements.
Mr. Dunne: To ask the Chancellor of the Exchequer what recent estimate he has made of the cost to businesses of complying with tax reporting requirements. [278515]
Mr. Timms: Research commissioned by HMRC in 2005 found the administrative burden imposed on business by the UK tax system is approximately £5.1 billion a year.
Reducing administrative burdens for business is a priority for this Government, and so is one of HMRC's priorities. At Budget 2009, HMRC have reported significant progress and have implemented or committed to measures that will deliver administrative savings to business of around £540 million per annum.
