§ Mr. Millanasked the Chancellor of the Exchequer how many insurance policies making provision for retirement annuities for the self-employed and controlling directors are now currently ranking for taxation relief under the provisions of the Finance Act, 1956; and what is the annual relief of tax.
§ Mr. BarberIn all, there are about 170,000 policies making provision for retirement annuities which rank for tax relief under the Finance Act, 1956; the tax70W relief involved is about £8 million. Some of these policies relate to employees who do not hold a pensionable office or employment; and it is not possible to say how many of them relate to self-employed persons and controlling directors.