Clause 4 - Tax
Horserace Betting and Olympic Lottery Bill
10:30 am
Mr Richard Caborn (Minister of State (Sport and Tourism), Department for Culture, Media & Sport; Sheffield Central, Labour)
The aim of clause 4 is to preserve the tax neutrality of the transfer, which is what the hon. Gentleman was getting at. Amendments Nos. 30 and 32 insert express references to stamp duty land tax. The Government accept that stamp duty land tax needs to be mentioned, but it is sufficient for that to be in subsection (2). Therefore, I commend amendment No. 42 to the Committee and ask the hon. Gentleman to seek to withdraw his amendment.
Amendment No. 31 ensures that the transfer to the successor company will not give rise to a liability under an enactment or regulation about stamp duty. The word ''enactment'' is capable of covering secondary legislation, and we do not believe that an arbitrary distinction could be drawn between tax liabilities in primary legislation and those in regulations. For that reason, I hope that the hon. Gentleman will not press the amendment.