§ Mr. LoughtonTo ask the Chancellor of the Exchequer if effective bed and breakfasts from a personal holding into a PEP account held by the same beneficiary will be admissible under Budget changes to the Capital Gains Tax rules. [36802]
§ Mr. Geoffrey Robinson[holding answer 30 March 1998]: The new CGT matching rule applies only to disposals and acquisitions undertaken by a person in the same capacity. Shares acquired by an individual through 245W a PEP manager will be acquired in a different capacity to shares sold by the taxpayer outside the PEP. So the new matching rule will not apply.
§ Mr. LoughtonTo ask the Chancellor of the Exchequer how many countries in Europe operate a capital gains tax system which involves 18 or more different rates of capital gains tax [36788]
§ Dawn Primarolo[holding answer 30 March 1998]: None. They either have a single rate or a small number of rates, as in the United Kingdom which presently, for individuals, has 3 rates and will continue to do so under the reforms proposed in the Budget.