HL Deb 05 November 1992 vol 539 cc127-8WA
Lord Kennet

asked Her Majesty's Government:

At what rate gains from currency speculation are taxed; how many employees of the Inland Revenue are occupied in this field; and how much revenue has been raised from such speculation in each year since the "Big Bang".

The Earl of Caithness

There is no special rate of tax for gains from currency speculation. Gains from currency transactions entered into in the course of a trade form part of the trading profits assessable to income tax or corporation tax. Gains from non-trading currency transactions made by individuals are charged to capital gains tax and by companies to corporation tax. The additional information requested is not available.