Clause 42
Finance Bill
6:15 pm
David Gauke (Shadow Minister, Treasury; South West Hertfordshire, Conservative)
I am grateful to the Minister for providing clarification on a number of points, but I would like to return to the trust issue. As I said earlier, if a company’s shares are held via a trust, I do not think that it will benefit. The question remains why not? I was concerned about a situation in which all the shares are owned by one spouse, although the other spouse is the director of the relevant company. Would that situation be protected? Although I have those concerns, on the whole we welcome the clause.