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Business Expansion Scheme

Volume 84: debated on Wednesday 23 October 1985

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asked the Chancellor of the Exchequer what is the rating under the business expansion scheme for £1 invested for a person paying tax at a marginal rate of (a) 60 per cent. and (b) 30 per cent.

asked the Chancellor of the Exchequer what is the average amount of relief claimed by individuals making qualifying business expansion scheme investments; and what is the average rate of taxation so relieved.

[pursuant to his reply, 21 October 1985, c. 8]: The average investment in 1983–84 was about £5,000 and the average rate of tax relief was about 50 per cent. Figures are not yet available for 1984–85 investments.

asked the Chancellor of the Exchequer if he will provide a breakdown between business expansion scheme relief allocated to individuals and to qualifying business expansion scheme funds, respectively.

[pursuant to his reply, 21 October 1985, c. 8]: Relief for investment under the business expansion scheme is given to individuals only. In 1983–84 just over 60 per cent. of the investments were made direct with the balance being made through approved funds. A comparable breakdown for 1984–85 is not yet available.