§ Mr. Michael Brownasked the Chancellor of the Exchequer if he will list the individual occasions during the past two years when notices under section 481 of the Income and Corporation Taxes Act were issued; what prosecutions resulted from the issue of these notices; and what was the result of such prosecutions.
§ Mr. Peter ReesInformation needed by the Inland Revenue for the purposes of preventing avoidance of tax by means of transfers of assets abroad is often called for without recourse to a formal notice under section 481; 188 such formal notices were issued in the two years up to 30 June 1980.
I am not able to specify the individual occasions without breaching the confidentiality which attaches to the tax affairs of individual taxpayers. No prosecutions have yet resulted from the issue of these notices.