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Fisheries

Volume 402: debated on Tuesday 25 March 2003

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To ask the Chancellor of the Exchequer how much tax was paid to the UK Treasury arising from the last fishing vessel decommissioning scheme. [105030]

Grants payable for the decommissioning of fishing vessels may lead to increased taxable receipts by contributing either to a capital gain on the disposal of the vessel or to taxable profits arising from the trade. The amount of tax paid will depend upon the circumstances of the taxpayers concerned and cannot readily be estimated.