HC Deb 15 July 1992 vol 211 cc694-5W
Mr. Peter Bottomley

To ask the Chancellor of the Exchequer how many building societies had a late enough year-end and interest accruals so concentrated at the end of their accounting period that they benefited from the introduction of the Income Tax (Building Societies) Regulations 1986.

Mr. Dorrell

The regulations were designed to deal consistently with societies, whatever their year-end, by securing in each case that interest came into account once, and once only, on the transition to revised payment arrangements for composite rate tax.

Mr. Peter Bottomley

To ask the Chancellor of the Exchequer what response he has made to the points raised recently by the counsel to the Woolwich building society.

Mr. Dorrell

I am not aware of any points raised recently by counsel for the Woolwich building society.