§ Mr. LilleyTo ask the Chancellor of the Exchequer if he will make a statement on the tax treatment of capital gains on shares held for a United Kingdom beneficiary in an offshore trust in Guernsey. [19006]
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§ Mr. Gordon Brown[holding answer 4 December 1997]: The tax treatment is set out in Section 86 and Schedule 5 of the Taxation of chargeable Gains Act 1992.
§ Mr. LilleyTo ask the Chancellor of the Exchequer if the Paymaster General(a) receives papers and (b) participates in meetings relating to taxation of offshore trusts and the closing of tax loopholes. [19004]
§ Mr. Gordon Brown[holding answer 4 December 1997]: I consult widely with colleagues on a variety of policy issues but any decisions are made by me.
§ Mr. LilleyTo ask the Chancellor of the Exchequer to what extent the Paymaster General has been involved in policy discussions relating to the taxation of offshore trusts. [19002]
§ Mr. Gordon Brown[holding answer 4 December 1997]: Wide ranging reviews of taxation issues are currently under way. The results of these reviews will be announced to Parliament in the usual way.