§ 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 Capital366W Gains Tax to investment clubs has today been sent to the Association for their consideration.