HC Deb 01 February 1978 vol 943 c230W
Mr. David Watkins

asked the Chancellor of the Exchequer how many applications there have been -to date under the provisions of the Finance Acts 1975 and 1976 for exemption from capital transfer tax in respect of transfer of shares to employee trusts.

Mr. Denzil Davies

Two, both involving substantial shareholdings. There have been inquiries in nine other cases.

My right hon. Friend the Chancellor of the Duchy of Lancaster has announced that the Government propose to introduce relaxations of the conditions for this relief in the next Finance Bill.