§ 21. Sir D. Rentonasked the Chancellor of the Exchequer whether he is aware that limitation to 8 per cent. of the interest paid to the director of a close company for corporation tax purposes has become unrealistic now that interest rates far exceed that amount; and whether he will therefore introduce legislation to amend Section 285 of the Taxes Act.
§ Mr. NottMy right hon. Friend is aware of my right hon. and learned Friend's representations and will bear his proposal in mind.