Clause 22 - Disallowance of input tax where consideration not paid
Finance Bill
11:00 am
Mr Paul Boateng (Financial Secretary, HM Treasury; Brent South, Labour)
I understand that. That has not ceased, but remains as an extra-statutory concession. When an appropriate opportunity arises for it to be incorporated, the extra-statutory concession will be brought within the ambit of statute. The right hon. Gentleman has been around for long enough to understand that that is how it works. The concession is extra-statutory now, and people benefit from it; when an appropriate time comes to incorporate it into statute, it will be incorporated. There is nothing sinister or out of the ordinary there. The right hon. Gentleman will have witnessed that approach on many occasions.
Question put and agreed to.
Clause 22 ordered to stand part of the Bill.