Clause 4 - Tax
Horserace Betting and Olympic Lottery Bill
10:30 am
Mr James Paice (South East Cambridgeshire, Conservative)
I should be interested if the Minister could explain why he believes that it can all be covered under subsection (2), as in most clauses the opening lines are important. Clause 4 says that
''for the purposes of any enactment about income tax, corporation tax or capital gains tax—
(a) the successor company and the Horserace Totalisator Board shall be treated as the same person''.
The Minister appears to be saying that it is not necessary to put stamp duty land tax into that statement, but it can go in, as he proposes, in line 12, at the end of the clause. I do not know why that is, as all the other taxes are covered in the opening line of the clause. I should be grateful for an explanation.