Limited Partners: Restriction of Reliefs

Part of Orders of the Day — Finance Bill – in the House of Commons at 9:30 pm on 10th July 1985.

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Photo of Tony Blair Tony Blair , Sedgefield 9:30 pm, 10th July 1985

I should like the Chief Secretary's assurance that we have understood the effect of the interlocking amendments. As I understand it, they tighten the anti-avoidance provisions in relation to limited partnerships by ensuring that they cover losses created by capital allowances as well as losses created by income. On that basis, the Opposition are happy to support the amendments. I wanted to ensure that we had understood the amendments correctly.