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Finance Bill Debates

Alan Dolton editor of Tolley's Tax Cases continues our summaries of the Public Bill Committee debates on the Finance Bill
Resuming on Thursday 11 June the Committee agreed clause 40 without further debate and turned to the details of Schedule 19 (income tax credits for foreign distributions). In a rare display of cross-party co-operation this saw one amendment which had been jointly tabled by the Financial Secretary and by Conservative spokesman Mark Hoban. The Economic Secretary explained:
'The amendment will delete an inconsequential signpost attached to condition B of proposed new s 397AA to the Income Tax (Trading and Other Income) Act 2005 which was included to help taxpayers to interpret the legislation by alerting them to the changes made in clause 39. However ...

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