Schedule 7 - Accounting practice and related matters
Finance Bill
4:30 pm
Nicholas Winterton (Macclesfield, Conservative)
With this it will be convenient to discuss the following amendments: No. 117, in schedule 7, page 88, line 41, leave out from ‘years)’ to end and insert
‘at end insert “and where the main purpose, or one of the main purposes, of one or more of the parties to the finance agreement was a tax avoidance purpose.”.’.
No. 69, in schedule 7, page 89, line 5, leave out sub-paragraphs (5) and (6).
No. 118, in schedule 7, page 89, line 32, at end insert—
‘“tax advantage” has the meaning given by section 709(1) of the Taxes Act 1988;“tax avoidance purpose” in the case of any person, means any purpose that consists in securing a tax advantage (whether for the person or any other person).’.