§ Mr. Peter Reesasked the Chancellor of the Exchequer whether, in view of the recent announcement of the Revenue on the meaning of "interest in possession", the transitional relief from capital transfer tax in respect of capital distributions made before 1st April 1976 under paragraph 14(2) of Schedule 5 to the Finance Act 1975 will be extended for 12 months.
§ Mr. Joel BarnettNo.