HC Deb 25 October 1973 vol 861 c560W
21. Sir D. Renton

asked the Chancellor of the Exchequer whether he is aware that limitation to 8 per cent. of the interest paid to the director of a close company for corporation tax purposes has become unrealistic now that interest rates far exceed that amount; and whether he will therefore introduce legislation to amend Section 285 of the Taxes Act.

Mr. Nott

My right hon. Friend is aware of my right hon. and learned Friend's representations and will bear his proposal in mind.