Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the effect on UK-resident businesses of the proposal on deferred payment of capital gains tax for (a) trusts ceasing to be UK resident and (b) non-UK resident individuals who trade through a UK branch or agency as set out in clause 36 of the draft Finance Bill.

Clause 36 is not expected to impact on UK-resident businesses.

Those who are moving trusts out of the UK and non-resident individuals who defer capital gains tax as a result of the measure will still pay the same amount of tax, but over a longer period with interest charged on outstanding amounts.