Forward contracts
Dawn Primarolo has stated in a Written Parliamentary Answer that the Revenue is no longer entering into forward contracts for future tax liabilities. The Answer also reveals that no central records were kept of these agreements at the time they were made, but the number of individuals so far identified to have been covered by them in the years in question is as follows: 1997: 7; 1998: 4; 1999: 3; 2000: 2.
Forward contracts
Dawn Primarolo has stated in a Written Parliamentary Answer that the Revenue is no longer entering into forward contracts for future tax liabilities. The Answer also reveals that no central records were kept of these agreements at the time they were made, but the number of individuals so far identified to have been covered by them in the years in question is as follows: 1997: 7; 1998: 4; 1999: 3; 2000: 2.
These figures include one case (covering four individuals, in 1998) that has come to light following recent publicity. Agreements in other cases have also covered the tax affairs of more than one individual.
(Source: Hansard, 17 July 2002, Vol 389, No 180, col 251w.)
Finance Bill
The Finance Bill was passed by the House of Lords on Friday 12 July. The Bill is expected to receive Royal Assent on Wednesday 24 July 2002, the final day of the Parliamentary session before the summer recess.
