(Except Clauses 1, 4, 5, 9, 14, 22, 42, 56, 57, 124, 130 to 135, 138, 139, 148 and 184 and Schedules 5, 6, 19 and 25, and any new Clauses and Schedules tabled by Friday 9th May 2003 relating to excise duty on spirits or RÿD tax credits for oil exploration.) - Schedule 22 - Employee securities and options
Finance Bill
3:30 pm
Mr John Baron (Billericay, Conservative)
I thank the Paymaster General for her generosity. I seek clarification on subsections (5) and (6) of new section 421D and the relationship between them. Perhaps it is me, and I am willing to admit that I am wrong, but I have read them twice now, trying to eke out some clarification on the interaction between them, but they seem to be gibberish. Where a beneficial interest grows over time, so correspondingly someone else's interest declines or withers, does the Inland
Revenue propose to raise a tax charge every day, every month or every minute? That is what the interaction of those two subsections tends to suggest to me.