Schedule 34 - Policies of life insurance etc: miscellaneous amendments
Finance Bill
9:15 am
Mr Howard Flight (Arundel and South Downs, Conservative)
Not in the aggregate, but in terms of an individual situation it did. The prevailing situation in which the tax arrangements apply seems extremely tax anomalous. It may well be that the volume of such business affected is modest with regard to additional tax revenue. That is not a sound argument for having a tax regime that is manifestly wrong. However, partly on the basis of the amendment not achieving its objective, and partly on the basis of materiality, I feel that there is no point in pressing it to a vote. I hope that the Government will consider tidying up the matter in due course, and I beg to ask leave to withdraw the amendment.
Amendment, by leave, withdrawn.
Schedule 34 agreed to.
Clause 171 ordered to stand part of the Bill.