Capital Gains Tax

HC Deb 19 November 1964 vol 702 cc88-9W

Mr. Stratton Mills

asked the Chancellor of the Exchequer (1) whether fixed interest stock on redemption will be subject to the proposed capital gains tax;

(2) whether holders of War Loan who acquired their stock at par will be subject to the proposed capital gains tax if they sell at a price higher than that existing on Budget day 1965;

(3) whether he will exempt life insurance policies with profits from his proposed capital gains tax;

(4) whether overseas income will be subject to double taxation arising from the proposed corporation tax; and if he will make a statement;

(5) if investment trusts and pension funds will be subject to the proposed capital gains tax when adjusting their portfolios.

Mr. MacDermot

I must ask the hon. Gentleman to await the proposals which my right hon. Friend will present.