§ Mr. Martyn JonesTo ask the Chancellor of the Exchequer what proposals his Department is currently evaluating with regard to local exchange trading systems and the Inland Revenue; and if he will make a statement. [2306]
§ Mr. JackThe Inland Revenue is not aware of any particular problems with local exchange trading systems and has no plans to evaluate these schemes.
§ Mr. JonesTo ask the Chancellor of the Exchequer what is Her Majesty's Government's policy in respect of LETS and the Inland Revenue; and if he will make a statement. [2305]
§ Mr. JackTraders who operate within a local exchange trading system are taxable on their trading profits, just like traders who operate outside of such a scheme.