HC Deb 19 January 1982 vol 16 cc106-7W
Mr. Stainton

asked the Chancellor of the Exchequer what is the practice of the Inland Revenue as regards banks taking advantage of the statutory facility to transfer profits to inner reserves both in respect of payments into such reserves and releases therefrom.

Mr. Ridley

The taxable profits of banks are computed in accordance with the Taxes Acts. These profits represent the results of trading, before any transfers are made to or from inner reserves.