Schedule 14 - Enterprise management incentives: amendments
Finance Bill
11:45 am
Mr Howard Flight (Arundel and South Downs, Conservative)
I beg to move amendment No. 17, in page 147, line 37 at end insert—
`Indexation of amounts
.—(1) If the retail price index for the month of September preceding a year of assessment is higher than it was for the previous September, then, unless Parliament otherwise determines, paragraph 10(1)(a), paragraph 11(1) and paragraph 16(1) shall apply for that year as if each amount specified in them as they applied for the previous year (whether by virtue of this paragraph or otherwise) there were substituted an amount arrived at by increasing the amount for the previous year by the same percentage as the percentage increase in the retail price index, and
jf13Ý(a) if in the case of an amount specified in paragraph 10(1)(a) and paragraph 11(1) the result is not a multiple of £10,000, rounding it up to the nearest amount which is such a multiple;
(b) if in the case of the amount specified in paragraph 16(1) the result is not a multiple of £100,000, rounding it up to the nearest amount which is such a multiple.
(2) The Treasury shall in each year of assessment make an order specifying the amounts which by virtue of sub-paragraph (1) above will be treated as specified for the following year of assessment in paragraphs 10(1)(a), 11(1) and 16(1).'.