Clause 46
Finance Bill
5:00 pm
Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
I think that there is a degree of consensus around this clause, certainly from people in the industry. In its representations on the clause, the Chartered Institute of Taxation said that in the Budget press release, BN15, it was implied by paragraph 3 that existing repos would be “grandfathered”, but that is not mentioned in the Finance Bill. It is seeking confirmation that it will be included in the regulations made under subsection (3). I would be grateful if the Minister could confirm whether that is the case.