§ Mr. Wigleyasked the Chancellor of the Exchequer if he will take the necessary steps to facilitate the transfer of shares to employees within a company by freeing such transactions from liability for capital transfer tax.
§ Mr. Denzil DaviesExemption from capital transfer tax is already available in some cases for gifts of shares to trusts for the benefit of employees, under Section 90 of the Finance Act 1976. Alternatively, a gift of shares may fall within the exemption provided by Section 89(1) of that Act.