§ 26. Mr. Ridleyasked the Chancellor of the Exchequer whether, under his regulations, Christmas presents given by a company to its customers may be treated by the company as expenses before tax.
§ Mr. DiamondNot unless they fall within the exception in Section 15, Finance Act, 1965, for gifts to overseas customers or for small advertising gifts.
§ Mr. RidleyWould not the hon. Gentleman agree that this minor evasion of tax by presenting Christmas presents to people is going on on too great a scale? Will he make what he has just said well known to prevent this abuse from spreading further?
§ Mr. DiamondI am very interested in what the hon. Gentleman has to say.