Dr. ThomasTo ask the Secretary of State for the Environment if he has any plans to meet Bryn Jones the director of the Landmark Trust.
§ Mr. TrippierNo. I understand that the director is, in fact, Mr. Robin Evans.
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Industrial buildings £'000s Plant and machinery £'000s Yorkshire Water Services Limited 63,825 783,952 Dwr Cymru Cyfyngedid 48,262 451,387 These amounts have been determined after consultation with the companies and Inland Revenue.
In the same way as other businesses the water service companies are subject to corporation tax and are entitled to capital allowances on their qualifying assets including those transferred to them from predecessor water authorities. As the predecessor authorities were exempt from tax and no consideration passed on transfer of the assets, it was necessary to determine opening figures of eligible expenditure for capital allowances purposes. The amounts shown represent the depreciated historical cost of the qualifying assets and are a fair measure of their value for tax purposes.
Eligible expenditure incurred after the transfer date will be agreed with the Inland Revenue in the normal way.