Question to the HM Treasury:

To ask Her Majesty’s Government what assessment they have made of the financial and administrative burden to small businesses of the proposals to introduce mandatory quarterly reporting.

HM Revenue and Customs will publish an initial assessment of the impacts of the new requirements for businesses alongside an overview of the potential costs and savings as part of consultations planned this year. This will include the contribution these reforms will make towards the £400m administrative burdens reduction target for business.