HC Deb 02 November 1965 vol 718 cc157-8W
Mr. Geoffrey Lloyd

asked the Minister of Land and Natural Resources whether, under his proposed legislation, companies dealing in land will be required to pay development levy on transactions in land arising in the course of their business; and whether credit for such payments of development levy will be given in assessing Corporation Tax on such companies.

Mr. Willey

The Answer to the first part of the Question is "Yes"; the Answer to the second part is that the amount paid in levy will be allowed as an expense in computing their profits for Corporation Tax purposes.