Clause 163 - Avoidance affecting proceeds
Finance Bill
5:15 pm
Mr Nicholas Winterton (Macclesfield, Conservative)
With this it will be convenient to discuss the following:
Amendment No. 10, in
clause 163, page 106, line 11, leave out subsection (2) and insert—
'(2) If, as a result of a tax avoidance scheme, the amount to be brought into account as the proceeds from the event is less than it would otherwise have been, the amount of any balancing allowance to which the taxpayer would otherwise be entitled shall be equal to the amount that (but for the provisions of this section) it would have been if the tax avoidance scheme had not been implemented.'.
Amendment No. 11, in
clause 163, page 106, line 17, after 'to', insert 'reduce or'.
Amendment No. 12, in
clause 163, page 106, line 19, at end insert 'in full'.