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Close Companies

Volume 927: debated on Tuesday 1 March 1977

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asked the Chancellor of the Exchequer what were his reasons for stating that recommendation 13.58 of the Bolton Report, that close companies should be allowed to elect, by unanimous decision of the shareholders, to be taxed as partnerships, was impracticable.

pursuant to his reply [Official Report, 24th February 1977; Vol. 926, c. 698], gave the following information:I have nothing to add to the answer given by my hon. Friend the Under-Secretary of State for Industry to the hon. Member for Rushcliffe (Mr. Clarke) on 24th January.—[Vol. 924, c. 432.]