TaxCorporate TaxMaths – not the Treasury’s strong point

Maths - not the Treasury's strong point

Either cutbacks are affecting the number of calculators in the Treasury or David Gauke a humble master of understatement

TS WAS slightly concerned about Exchequer secretary to the Treasury David Gauke’s failure to do sums on non-doms, as exclusively revealed on this website in a shameless piece of self promotion.

However, it is not always easy to get your sums right on estimated figures, especially not when it is on a subject as politically sensitive as non-doms. It is not as though he failed on basic addition, right?

Well, it looks as though the Treasury is suffering from the so-called declining standards in GCSE maths.

TS noticed that the Treasury’s consultations on research & development credits states the relief will help “more than 6,000 businesses”, according to Gauke’s foreword on page 3 of the consultation document. That is impressive. But, we hear you say, it would be helpful if they broke this down to small business and big business. Which the Treasury does do, on page 18.

“Around 6,500 SME companies claim R&D tax relief each year… the large company scheme benefits around 2,200 companies each year.”

Which comes to around, er, 8,700.

But, in fairness, Gauke was right – 8,700 is a lot more than 6,000. TS will give Gauke the benefit of the doubt that he is a rare humble minister, who excels in understatement.

Related Articles

Q&A with the Financial Secretary to the Treasury

Corporate Tax Q&A with the Financial Secretary to the Treasury

5m Emma Smith, Managing Editor
Colin: Tell them about the money, mummy

Business Regulation Colin: Tell them about the money, mummy

1y Taking Stock
Government looks to close tax loophole on staff benefits

Corporate Tax Government looks to close tax loophole on staff benefits

1y AccountancyAge staff
Budget 2016: Bittersweet budget paves the way for sugar tax

Corporate Tax Budget 2016: Bittersweet budget paves the way for sugar tax

2y Chris Warmoll, Writer
Budget 2016: More HMRC staff and £71m promised to boost digital tax roll-out

Corporate Tax Budget 2016: More HMRC staff and £71m promised to boost digital tax roll-out

2y Chris Warmoll, Writer
Tax breaks needed to save UK oil industry, urges trade body

Corporate Tax Tax breaks needed to save UK oil industry, urges trade body

2y Fraser Simpson, Reporter
Colin: Wiki tax policy

Corporate Tax Colin: Wiki tax policy

2y Taking Stock
Taking Stock: HMRC turns to Wikipedia in its search for answers

Corporate Tax Taking Stock: HMRC turns to Wikipedia in its search for answers

2y Taking Stock