§ Mr. Dobsonasked the Chancellor of the Exchequer what is the annual value of the tax relief given to companies which pay for medical insurance for employees and set this against corporation tax as a business expense.
§ Mr. Wakeham[pursuant to his reply, 21 December 1982, c. 500]: The corporation tax relief for companies in respect of these expenses is very tentatively estimated as £20 million. The benefit to employees is of course subject to income tax for directors and those earning over £8,500 a year, and the income tax yield is very tentatively estimated as £35 million.