HC Deb 11 March 2002 vol 381 c705W
Mrs. Curtis-Thomas

To ask the Chancellor of the Exchequer if the Government intend to define initial costs incurred as a result of raising equity as a legitimate expense and allow them to be written off against tax. [40250]

Dawn Primarolo

The costs of raising equity finance are treated consistently between taxable profits and commercial accounts—they are not allowed as a deduction against profits because they relate to ownership of the company. The Government have not stated any intention to change this rule.