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Company Residence

Volume 13: debated on Monday 16 November 1981

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asked the Chancellor of the Exchequer if he will seek to repeal section 482 of the Income and Corporation Taxes Act 1970 and to redefine company residence.

asked the Chancellor of the Exchequer whether he plans to take action following the publication of the Inland Revenue consultative documents "Tax Havens and the Corporate Sector" and "Company Residence"; and if he will publish a list of those persons and bodies who have made representations on these documents, distinguishing those resident in the Channel Islands and the Isle of Man.

asked the Chancellor of the Exchequer if he will list, for each of the last five years, the total amounts of tax loss estimated under information item 28 of Treasury circular of 1975 regarding application for special consent under section 482 of Income and Corporation Taxes Act 1970.

asked the Chancellor of the Exchequer if he will list, for each of the last five years, the locations of the non-resident bodies corporate which have applied for specific consent under section 482 of the Income and Corporation Taxes Act 1970, in accordance with the procedure set out in the Treasury memorandum of 1975.

I regret that the information requested cannot be supplied except at disproportionate cost. In the last five years approximately 10,000 applications have been made for consent under section 482 of the Income and Corporation Taxes Act 1970.

asked the Chancellor of the Exchequer if he will seek to impose on companies operating in the United Kingdom but resident in the Channel Islands or the Isle of Man a surcharge equivalent to the amount of tax which would have been paid by them had they been ordinarily resident in the United Kingdom.

asked the Chancellor of the Exchequer if he will estimate the annual tax forgone by the Exchequer in respect of companies operating essentially as companies registered in the United Kingdom but registered in the Channel Islands or the Isle of Man.