HC Deb 04 August 1965 vol 717 cc365-6W
Mr. Geoffrey Lloyd

asked the Chancellor of the Exchequer whether he will arrange for interim guidance to be given to investment clubs, pending the negotiation of new procedures, on the accounting for tax of capital gains.

Mr. MacDermot

There have been further discussions between the Inland Revenue and officers of the National Association of Investment Clubs. A draft scheme for the application of the Capital Gains Tax to investment clubs has today been sent to the Association for their consideration.