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Company Taxation

Volume 124: debated on Monday 7 December 1987

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To ask the Chancellor of the Exchequer what is the average period for companies to receive repayment of tax from elections under section 177(2) of the Income and Corporation Taxes Act 1970.

Information is not available centrally. The repayment period will vary depending upon

Total BES investment per company in each year
1983–841984–851985–861
CompaniesAmount £ millionCompaniesAmount £ millionCompaniesAmount £ million
up to £100,000495155271544012
£100,000—£250,000118191592511017
£250,000—£500,000582059205418
£500,000—£1 million322033223022
over £1 million123129663688
Total715105807148670157
1 Provisional. Final results for 1985–86 are expected to show a slight increase on those quoted above.

To ask the Chancellor of the Exchequer what assessment he has made of the contribution of the relief given to companies raising over £1 million in equity under the business expansion scheme towards stimulating the development of small businesses; and if he will make a statement.

An assessment of the contribution made by the business expansion scheme towards stimulating the development of small businesses is contained in the Peat Marwick report which was published in March 1986; a copy of which is available in the House of Commons Library.