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Breakfast briefing
Taxation is holding a free Budget breakfast briefing, sponsored by Chilterns and Digita, on 4 April 2006 at the Jurys Great Russell Street, London WC1. This is the perfect opportunity to find out more about the key issues in the Budget and, as this week's issue shows, the Chancellor has given everyone plenty to think about. Places are going fast, so book now to secure a place by e-mailing: conferences@lexisnexis.co.uk, with full contact details and quoting code H04T172.
IP review
As part of the Gowers review of intellectual property, interested parties are invited to send in comments on the general and specific issues under discussion. Evidence is required by 21 April 2006, and further information can be found on www.hm-treasury.gov.uk/gowers.
I beg your pardon …?
We remain interested in the total cost of the PAYE e-filing incentive scheme, especially since we noticed that Patrick Carter's Review of Payroll Services originally estimated (page 32) that the total cost of the scheme over its five-year life would be £286 million, £37 million for the first year. (This was based on 10% of eligible small employers taking up e-filing in the first year, with annual 10% increases thereafter.)
In an attempt to compare costs and benefits, we asked HMRC if they could let us know how much has been credited or paid out so far by way of the e-filing incentive for the 2004-05 end-of-year returns.
We were advised that:
'Online filing forms part of much wider plans within HMRC to make changes to streamline PAYE end-of-year work, support the automation of HMRC systems, and take advantage of the wider benefits from greater use of electronic submission with minimal clerical intervention. As it currently stands, a net benefit from the wider programme is expected to be in the range from £70 million to £100 million annual savings.'
We then asked how much has been credited or paid out so far by way of the e-filing incentive for the 2004-05 end-of-year returns. We received the reply that:
'It would not be proper for us to answer that in the run up to the local elections.'
We therefore hope to be able to update readers on this subject after 4 May 2006.
