Finance Act 2008
Treasury
Mike Freer (Finchley and Golders Green, Conservative)
To ask the Chancellor of the Exchequer how much revenue (a) is due and (b) has been collected under the provisions of section 58 of the Finance Act 2008.
David Gauke (Exchequer Secretary, HM Treasury; South West Hertfordshire, Conservative)
UK residents are taxable on their worldwide income wherever it arises—including situations where it arises by way of foreign partnerships. Section 58 of Finance Act 2008 was enacted to help put that beyond doubt. As section 58 retrospectively clarified existing legislation, its introduction had no affect on any taxpayers' tax position.
Annotations
William Atkin
Posted on 10 Jul 2012 10:49 pm (Report this annotation)
Could a question be formulated in a different way? Something like...
"What is the difference between (a) the total revenue to be collected from those taxpayers affected by the provisions of section 58 of the Finance Act 2008 and (b) the total revenue that would have been collected from the same taxpayers in the absence of section 58 of the Finance Act 2008?"