Written question asked by David Atkinson (Conservative), in the House of Commons. It was due for an answer on Tuesday, 18 March 1997. It was answered by Michael Jack (Conservative) on Tuesday, 18 March 1997 on behalf of the Treasury.

Treasury

Question: If he will introduce measures to ease the financial burden of millennium compliance of computer systems for companies.

Answer: Mr. David Atkinson: To ask the Chancellor of the Exchequer if he will introduce measures to ease the financial burden of millennium compliance of computer systems for companies. [20162] Mr. Jack: As far as taxation is concerned, the position is that companies will normally be able to deduct the cost of making amendments to their existing software in computing their taxable profits. Capital expenditure on purchases of new software to deal with the millennium will normally qualify for capital allowances. Thus I see no need for any special tax measures.

Secondary information