§ Mr. Simon CoombsTo ask the Chancellor of the Exchequer what is his policy on the tax treatment of bridging loan finance costs incurred during home relocation.
§ Mr. DorrellThe Government's policy is that the tax treatment of bridging loan finance costs incurred during home relocation should be subject to the usual tax rules, as well as those in clause 76 and schedule 5 of the current Finance (No. 2) Bill.
§ Mr. Simon CoombsTo ask the Chancellor of the Exchequer what is his policy on the tax treatment of capital depreciation costs incurred during home relocation where either an employer or a relocation company purchases the employee's property at its current market value.
§ Mr. DorrellThe Government's policy on capital depreciation costs on relocation, which are assumed to be loss on sale payments under guarantee sale price schemes, is that they should not qualify for tax relief under the new relief for relocation costs in clause 76 and schedule 5 of the current Finance (No. 2) Bill.