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Clause 50 - Deduction of personal losses from gains treated as accruing to settlors

Part of Finance Bill – in a Public Bill Committee at 5:15 pm on 21st May 2002.

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Photo of Ruth Kelly Ruth Kelly Economic Secretary, HM Treasury 5:15 pm, 21st May 2002

I hope that I can reassure the hon. Gentleman on that particular point. I am advised that taper relief will not be lost under the clause. Trustees will not apply taper relief because the settlor will get it.