§ Mr. Albert Robertsasked the Chancellor of the Exchequer how the salaries or wages paid to industrial workers and to doctors, teachers, dentists and judges compare in real terms with those paid in 1964.
§ Mr Biffen[pursuant to his reply, 3 July 1980, c. 679]: The basic salaries received in 1964 and 1980 by members of the groups mentioned in the question were as follows:
the Inland Revenue makes an estimated valuation. 11 companies have specified valuation as a ground of appeal against PRT assessments. In six such cases the Inland Revenue's estimated valuation has been subsequently reduced.
§ Mr. Ernie Rossasked the Chancellor of the Exchequer what is the period of time allowed between the production of North Sea oil and gas and payment of corporation tax; and how many companies currently are in breach of such agreement.
§ Mr. Peter Rees[pursuant to his reply, 11 July 1980, c. 318]: Corporation tax is normally payable within nine months from the end of the accounting period, or within 30 days of the issue of a notice of assessment if later. Advance corporation tax, in respect of distributions, is 543W payable within 14 days of the end of the quarter in which the distribution is made.
There are no current corporation tax liabilities relating to North Sea oil and gas production which are unpaid, but where corporation tax assessments are under appeal the tax in dispute may be held over pending determination of the appeal.
§ Mr. Ernie Rossasked the Chancellor of the Exchequer what is the period of time allowed between production of North Sea oil and gas and payment of petroleum revenue tax; and how many companies currently are in breach of such agreement on payments.
§ Mr. Peter Rees[pursuant to his reply, 11 July 1980, c. 318]: Under existing law, a payment on account of PRT for each chargeable period is due two months after the end of the period. Where the tax assessed for the period is greater than the payment on account, the excess is payable four months after the end of the period or 30 days after the making
544W
£ million 1978–79 1979–80 1980–81 (estimate) Conveyances, leases and transfers of land and property other than stocks and shares … … … … … … … 208 352 400 Transfers of stocks and shares; contract notes … … … 176 215 210 Capital duty … … … … … … … … 27 27 30 Other duties … … … … … … … … 22 27 30 TOTAL … … … … … … … 433 621 670 of the assessment, if later. On appeal against an assessment, the tax in dispute may be withheld pending determination of the appeal, but there are safeguards against companies' withholding tax unreasonably. No PRT currently payable is outstanding at present.
Advance payment of PRT, payable within two months of the beginning of each chargeable period, is proposed in the Finance (No. 2) Bill 1980.