In a written answer to a Parliamentary Question, paymaster general Dawn Primarolo said: 'I am pleased to be able to tell the House that the Tax Law Rewrite project is continuing to make good progress.'Last Friday (29 October) the Inland Revenue published the project's eighth exposure which contains draft rewritten clauses on the savings and investment income of individuals. These clauses will shortly be included in a Bill which will completely rewrite income tax legislation.Although it contains no general change in tax policy, the rewrite will make minor changes to detail to ensure clarity and ease of use.The project, which was established in 1996, is currently rewriting three areas of income tax - trading income, savings and investment income, and employment income.
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