§ Mr. Rostasked the Chancellor of the Exchequer if he has anything to add to what was said in the Budget statement about further studies of the tax treatment of groups and of capital allowances for the mineral extraction industries.
§ Mr. MooreMy right hon. and learned Friend the Member for Surrey, East (Sir G. Howe) said in the 1983 Budget Statement that there were areas of company taxation where we needed to make progress, including the tax treatment of groups and capital allowances for the mineral extraction industries. He was authorising the Inland Revenue to look further at these issues, and to consult on them where necessary.
The Government have already noted the many useful comments on these two topics included in responses to the Green Paper on corporation tax and elsewhere. These will be taken fully into account in the proposed further review. Before reaching conclusions, however, the Government wish to provide those who have not commented on these aspects of company taxation with an opportunity to do so and to invite those who have already made representations to consider whether they wish to amplify them. The Government would find it particularly helpful to be given an indication of the relative importance that respondents attach to particular proposals for change.
Representations should be sent to the Board of Inland Revenue, to arrive if possible by 31 October 1983.