(Except clauses 11, 18, 40, 43, 44 and 69 and schedule 8) - Clause 12 - Employee securities: anti-avoidance
Finance Bill
4:30 pm
Dawn Primarolo (Paymaster General, HM Treasury; Bristol South, Labour)
I was trying to be as clear as possible. Unless a scheme falls within the category of schemes contrived specifically to avoid income tax and national insurance on employment remuneration for an employee, it is not within the scope of clause 12 or schedule 2. There are matters to be discussed, but that will take a long time. I know that this topic has caused a great deal of interest, and I thought it would be helpful to provide to the Committee at the beginning of our deliberations as clear an idea as possible of the precise, narrow and targeted aim of schedule 2 and clause 12, and thereby to put to rest concerns that have been generated in some quarters.