HL Deb 12 November 1974 vol 354 c768WA
LORD TREFGARNE

asked Her Majesty's Government:

  1. 1. How many share transfers relating to shares in unquoted companies were submitted to the Controller of Stamps, Inland Revenue, for adjudication on the duty to be paid during the last convenient 12 month period;
  2. 2. What was the average time taken to reach a decision during the same period;
  3. 3. Whether they are satisfied that these arrangements are satisfactory.

LORD JACQUES

  1. 1. Detailed statistics are not available but it is estimated that in the year to March 29, 1974, some 14,500 transfers of shares in unquoted companies were submitted to the Controller of Stamps for adjudication of the stamp duty payable.
  2. 2. It is estimated that 70 per cent. of cases are settled within three months and the great majority of the remainder within one year.
  3. 3. When the information required to establish a valuation is readily available the valuation can be agreed and the adjudication made within a short period. However, delays may arise where the valuation is open to more doubt and (for example) the parties concerned are asked to provide additional information.