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New date for investment scheme stats

01 July 2008
Categories: News
Annual EIS, CVS and VCT figures online from December

HMRC have changed the timetable for the online publication of annual statistics relating to investment schemes.

Figures detailing the use of the Enterprise Investment Scheme, the Corporate Venturing Scheme and Venture Capital Trusts will now be made available on the Revenue website each year from the end of December.

The move from a September schedule follows an 'undertaking a methodological review of these statistics in line with National Statistics protocols', said HMRC.

The department added that the new publication schedule will mean that figures can be 'more complete' because they are based upon 'administrative systems and are wholly dependent upon the processing timescales within the systems'.

'The recent review established that it takes around two-and-a-half years from the beginning of any given tax year to receive most of the data,' claimed the Revenue.

Consequently, future published statistics will only include the tax years for which data is near-complete.

'The most recent year will be marked provisional though we expect subsequent revisions to be minor,' said the department, which claimed that the 'package of changes will reduce the need to make large revisions to previously published figures, reducing the risk that the statistics could mislead users'.

The HMRC website includes a table showing which tax years will be covered by data published on 31 December 2008.

Categories: News
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