§ Mr. Sedgemoreasked the Chancellor of the Exchequer what is the rating under the business expansion scheme for £1 invested for a person paying tax at a marginal rate of (a) 60 per cent. and (b) 30 per cent.
§ Mr. Sedgemoreasked the Chancellor of the Exchequer if the Government have any plans to offer individuals paying tax at a marginal rate of 30 per cent. the equivalent relief under the business expansion scheme for each £1 invested to that now available to an individual taxed at a marginal rate of 60 per cent.
§ Mr. Sedgemoreasked the Chancellor of the Exchequer whether business expansion schemes relief is made available to companies which purchase other businesses as going concerns where no new investment is promised.
§ Mr. MooreBES relief is given to the investor, not the company he invests in, and is available only if there is new investment in a qualifying company. Subject to certain conditions, the BES company may then use the proceeds of that investment, or any other resources available to it. to acquire the trade of another business which it intends to carry on.
§ Mr. Sedgemoreasked the Chancellor of the Exchequer (1) if he will provide a breakdown between business expansion scheme relief allocated to individuals and to qualifying business expansion scheme funds, respectively;
(2) what is the average amount of relief claimed by individuals making qualifying business expansion scheme investments; and what is the average rate of taxation so relieved.