HC Deb 11 June 1976 vol 912 c812W
Mr. David Steel

asked the Chancellor of the Exchequer what are the bases on which stock appreciation taxation relief is calculated.

Mr. Denzil Davies

For the financial years 1973 and 1974 stock relief was calculated on the basis of the increase in the value of a business's stock, less 10 per cent. of its trading income for the corresponding period, before deduction of capital allowances. Under the proposals in the current Finance Bill relief will in future be calculated on the basis of the increase in value of stock, less 15 per cent. of trading income after deduction of capital allowances.