Clause 8

Part of Finance (No. 2) Bill – in a Public Bill Committee am 5:45 pm ar 19 Hydref 2010.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Chris Leslie Chris Leslie Shadow Minister (Treasury) 5:45, 19 Hydref 2010

The hon. Gentleman was doing so well in a cross-party, bipartisan—tripartisan—way; I do not know what the phrase might be. The deduction of tax from interest has complexities, not necessarily about tax from individuals’ savings. Such complexities might involve whether the amounts are in yearly or monthly terms, or whether they concern special recipients, gilt interest, or foreign debts. Some companies have deductions at an interest level that is paid gross, and there are differences in how eurobonds are treated. It would be far better to spend a bit of time designing the online form, hopefully with a one-click solution.

Far be it from me to raise the acronym of IPSA in this Committee, but hon. Members will be more familiar than many of our constituents with the ridiculous  arrangement of going to the lengths of filling in an online form, pressing the button to submit it, and then—perplexingly—having to print out paper copies and submit duplicates. Such an arrangement requires an entirely unproductive effort on the part of the customer, the client and the consumer. In this case, I would not want an atrocious arrangement such as that to be suffered by our constituents when they deal with HMRC.