§ Mr. Rookerasked the Chancellor of the Exchequer how many extra staff are dealing with the operation of Section 485 of the Income and Corporation Taxes Act 1970 since its amendment by the Finance Act 1975; and how many are qualified accountants.
§ Mr. Denzil DaviesThree officers, one of whom is a qualified accountant, have been reassigned from other duties to deal with this work at head office since 13th238W March 1975. The work is partly done centrally and partly in the course of the normal examination of accounts by inspectors of taxes in local offices.
§ Mr. Rookerasked the Chancellor of the Exchequer how many appeals have been made following directions issued under Section 485(3) of the Income and Corporation Taxes Act 1970 since 12th March 1975; how many are outstanding; and how many have been allowed.
§ Mr. Denzil DaviesSince 12th March 1975 one direction has been made. The adjustment has yet to be finally settled.
§ Mr Rookerasked the Chancellor of the Exchequer how many directions have been given under Section 485(3) of the Income and Corporation Taxes Act 1970 in each of the past six years.
§ Mr. Denzil DaviesIn the past six years, 11 directions have been made, two in 1971, one in 1972, seven in 1974, and one in 1976. The existence of the power to make a direction is normally sufficient to enable appropriate adjustments to be negotiated without a formal direction being made.
§ Mr. Rookerasked the Chancellor of the Exchequer what representations he has received from the Institute of Taxation about the operation of the amended Section 485 of the Income and Corporation Taxes Act 1970 dealing with pricing policies of multinational companies; and what reply he has given.
§ Mr. Denzil DaviesIt would be for the Institute itself to make its representations publicly known.