Clause 50 - Deduction of personal losses from gains treated as accruing to settlors
Finance Bill
5:15 pm
Mr Howard Flight (Arundel and South Downs, Conservative)
I do not understand the logic of permitting losses in a trust to be offset against personal gains, but not permitting gains in a trust to be offset against personal losses. As the Economic Secretary just said, tax legislation treats the situation as if a trust did not exist. I cannot see the logic of making a change one way but not the other.