Clause 38 - Expenses of management:
Finance Bill
5:15 pm
Mr John Burnett (Shadow Minister, Home Affairs; Torridge and West Devon, Liberal Democrat)
May I make a quick point? I wonder whether the Paymaster General will clarify the position of capital allowances in relation to the expenses of management companies and companies with investment businesses. When such a company invests in computers and suchlike, presumably the effect of subsection (3) of new section 75 is not to
gainsay the ability of the company to claim capital allowances on such purchases. I hope that the Paymaster General can give us the necessary reassurance that that is not the case.