§ Mr. FisherTo ask the Chancellor of the Exchequer what information he has on back tax owed by insurance companies to the Inland Revenue.
§ Mr. Norman Lamont[holding answer 4 November 1988]: The Inland Revenue cannot, of course, comment on the tax affairs of any individual company. But in the main, insurance companies receive large amounts of tax credits and suffer income tax at source on their investment income. Their corporation tax liabilities will normally be satisfied by set-off against any repayment due.