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Stock Appreciation

Part of Orders of the Day — FINANCE (No. 2) BILL – in the House of Commons at 12:00 am on 16th July 1975.

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Photo of Mr Joel Barnett Mr Joel Barnett , Heywood and Royton 12:00 am, 16th July 1975

The right hon. Gentleman may be under a misapprehension. As I indicated, in the case of a company that is either in business only for a year or stops stocking a particular product or any products at all and its stock declines to nil, under this clause and those new clauses now before the House any profit realised on that stock would then not be liable to tax.