Baroness Kramer
Main Page: Baroness Kramer (Liberal Democrat - Life peer)
Baroness Kramer (LD)
My Lords, many companies have been putting pressure on HMRC as part of the revision of regulations to remove the requirement that investors should be identified in applications for advanced assurance that they meet the parameters of tax relief schemes and will be included. Indeed, removing disclosure seems to be an important theme in the simplification that is being asked for. As we look at kleptocracy and much of the abuse of the London laundromat, surely now is not the time for us to be focusing on removing disclosure, particularly the disclosure of who the investors are in companies that will receive especially favourable tax treatment.
Baroness Penn (Con)
My Lords, the Government are committed to ensuring that any state support they deliver is done in a fair and appropriate way. In saying that, we keep all our schemes under review to ensure that they are doing that. We will always do that in a fair way.