Written question asked by David Heathcoat-Amory (Conservative) on Tuesday, 18 May 1999, in the House of Commons. It was due for an answer on Monday, 14 June 1999. It was answered by Baroness Primarolo (Labour) on Monday, 14 June 1999 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if he will list the UK tax measures currently under examination by the EU Code of Conduct Group (Business Taxation). - Includes figures. (Holding answer 21 May 1999).

Answer: Mr. Heathcoat-Amory: To ask the Chancellor of the Exchequer if he will list the UK tax measures currently under examination by the EU Code of Conduct Group (Business Taxation). [84913] Dawn Primarolo: [holding answer 21 May 1999]: The work of the Code of Conduct Group is directed at the examination of potentially unfair tax practices across Europe. Such practices can distort competition and artificially attract investment and jobs away from member states such as the UK which have more neutral tax systems. The Code should help British businesses to compete on more even terms, protect UK employment and encourage investment here. The UK measures which were on the Group's initial list are: International Headquarters Companies; special measures for the film industry; enterprise zones; 100 per cent. first year capital allowances for SMEs in Northern Ireland and roll-over relief for balancing charges arising on the disposal of ships. The current list also includes a measure relating to Independent Investment Managers, which applies to non-residents who carry on a trade of dealing in investments in the UK through an independent agent; 100 per cent. capital allowances for expenditure on Scientific Research and 40 per cent. first year allowances for SMEs. The Government are clear that none of the measures is harmful and is robustly making that case in the Code Group.

Secondary information