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Regulatory Enforcement and Sanctions Bill [Lords]
Public Bill Committees, 17 June 2008, 11:15 am
Mark Prisk (Shadow Minister, Business, Enterprise and Regulatory Reform; Hertford & Stortford, Conservative)
My concern is that the LBRO company will engage in a series of activities, assets and so on, possibly including real estate, which would, on transfer to the new body, create a potential tax liability—stamp duty land tax being the obvious example. Many of those taxes relate to the change in value from the original purchase. Does the measure address the liability at the point of transfer solely, or is it concerned with the tax matters since the incorporation of the LBRO company, and thus retrospective?