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Finance Bill Debates

Alan Dolton Editor of Tolley's Tax Cases continues our coverage of Standing Committee A's consideration of the Finance Bill
Standing Committee A resumed on Thursday 25 May at 9.05am. In response to a question from Conservative spokesman Mark Francois (Rayleigh) the Economic Secretary (Ed Balls) indicated that HMRC hoped to publish the draft regulations relating to REITs on its website no later than Thursday 3 June.
Clause 81 (Leases of plant or machinery) was agreed without debate enabling the Committee to turn to the detailed provisions of Schedule 8 (Long funding leases).
The Financial Secretary (John Healey) proposed several Government amendments explaining:
'Although the main definition of “background plant or machinery” is in the primary legislation we propose supplementing it...

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