BUILDING SOCIETIES' COMPOSITE RATE TAX

EDM number 431 in 1992-93, proposed by Peter Bottomley on 06/07/1992.

That this House believes that there are two ways to understand the unfair and unlawful mess made by the Exchequer over the ending of the building society composite rate tax; either the demands for transitional tax overlapped a period for which societies had already discharged liability or alternatively it can be understood that more money was demanded to discharge less liability; and considers the best way out of the sorry saga of bungled building society taxation is for the societies affected to limit their claims and for the Exchequer to reverse the injudicious use of section 53 of the Finance Act 1991.

This motion has been signed by a total of 1 MPs.