HC Deb 09 May 1984 vol 59 c386W
Mr.Skeet

asked the Chancellor of the Exchequer (1) if he will seek to amend section 118 of the Capital Gains Tax Act 1979 to include a petroleum licence interest for the purpose of enabling participators to obtain roll-over relief;

(2) if he will take steps to amend capital gains tax legislation to facilitate farm-outs and disposals of interests in North sea licences; and if he will make a statement.

Mr.Moore

I am not aware of any evidence that capital gains tax changes are needed to facilitate farm-outs or disposals of interests in North Sea licences. The extension of rollover relief described by the hon. Member would moreover be unacceptably costly.