§ Mr. Barry FieldTo ask the Chancellor of the Exchequer what has been the amount of advance corporation tax repaid to United States companies with United Kingdom subsidiaries in each of the last five years.
§ Mr. Dorrell[holding answer 12 November 1992]: Payments of tax credits to non-resident parent companies under the United Kingdom/USA double taxation convention—companies which control at least 10 per cent. of the voting stock of the United Kingdom company—are estimated to have been as follows:
£ million Tax credits payable 1987–88 310 1988–89 390 1989–90 410 1990–91 260 1991–92 180