Mr. Patrick Davitt:

I am explaining what is actually happening. There is a 25% rate that applies to company profits and there is a further surcharge applied to those profits at 20% if they are not distributed within 18 months of the financial year-end. There is no distinction in capital gains tax been between a company and a private individual. We find that people will invest in a company because they see it as an attractive approach but, again, there are a lot of restrictions if they are operating through a company. People have to file annual accounts and they obviously have to deal with the taxman, deal with accountants and all of the other things.