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Finance Bill Debates

Alan Dolton editor of Tolley's Tax Cases concludes our coverage of Standing Committee A's consideration of the Finance Bill
Standing Committee A resumed on Tuesday 20 June discussing Schedule 21 (Taxable property held by investment-regulated pension schemes). The Economic Secretary (Ed Balls) explained:
'… we looked at the previous rules in a number of areas and found that there was imprecision a lack of clarity and the language was outdated. For example the term previously used for tangible moveable property was “personal chattels”. It is an outdated term outside the parameters of the Bill and rarely used in common parlance. Those definitions have worked for a number of years but over time there was a considerable need for substantial guidance in order to...
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