§ Mr. Neil Hamiltonasked the Chancellor of the Exchequer what account he took, in reaching his decision to remove the 25 per cent. income tax relief in relation to the foreign earnings of United Kingdom taxpayers, of the tax position of United Kingdom based partners in overseas controlled partnerships; and if he will make a statement.
§ Mr. Moore[pursuant to his reply, 13 July 1984]: The tax position of United Kingdom resident partners of overseas controlled partnerships was fully taken into account in reaching the decision to phase out the 25 per cent. deduction available under section 23(3) Finance Act 1974 and representations on this point were carefully considered.