§ Mr. Gordon Brown
To ask the Chancellor of the Exchequer (1) if he issued any instructions in the period 1982 to 1987 to allow exemption by the Inland Revenue on capital transfers between companies from capital duties; and when such transfers were treated as gifts;
(2) if he will publish the guidelines used in exempting capital transfers between companies from capital duty in the period 1982 to 1987;
(3) if he will furnish an estimate of the value of capital transfers between United Kingdom stockbrokers and their parent banks exempted from capital duty in the period 1982 to 1987 by the Inland Revenue.
§ Mr. Maude
[holding answer 8 March 1991]: Capital duty was charged not on capital transfers but on contributions of capital to a company—for example on the formation of the company. The scope of the duty was laid down in legislation.
It is not clear what information the hon. Member has in mind. If he will write to me I shall be able to consider his points in more detail.