Well to sum this one up I would be surprised if a social club band/singer was performing the Skids version of 'Masquerade' (not exactly one for the Bingo crowd !!)
So I think that kate1976 and Mortartube are BOTH correct. The Carpenters recorded 'This Masquerade' and it was later covered by George Benson.
There was also a song called Masquerade written by Rod Argent (and performed by Marti Webb on her Won't Change Places album). It was to be the title song from a musical that never happened - based on Kit Williams' treasure hunt book of the same name.