Schedule 19
Finance Bill
9:00 am
Ian Pearson (Economic Secretary, HM Treasury; Dudley South, Labour)
I beg to move amendment 158, in schedule 19, page 201, line 2, leave out from ‘fund’ to end of line 3.
Good morning, Mr. Hood. It is a pleasure to serve under your chairmanship in this, the ninth sitting of the Finance Bill Committee.
Amendment 158 was tabled by my right hon. Friend the Financial Secretary and the hon. Member for Fareham, so I think that it will prove to be uncontroversial. The amendment will delete an inconsequential signpost attached to condition B of proposed new section 397AA to the Income Tax (Trading and Other Income) Act 2005, which was included to help taxpayers to interpret the legislation by alerting them to the changes made in clause 39. However, it has been suggested that the wording could be misinterpreted. To remove any doubt, the amendment will remove the wording in question.