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Dividends (Stock)

Volume 888: debated on Wednesday 12 March 1975

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asked the Chancellor of the Exchequer whether the proposals that he has announced to tax stock dividends received in lieu of cash will include proposals for the payment of advance corporation tax by the company involved ; and what effect he estimates such proposals will have on company liquidity.

As implied in my reply of 4th March to my hon. Friend the Member for Renfrewshire, West (Mr.Buchan), my proposals will not involve the payment of advance corporation tax.