Schedule 14

Part of Finance Bill – in a Public Bill Committee at 12:00 pm on 9th June 2009.

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Amendments made: 95, in schedule 14, page 136, line 33, leave out from beginning to ‘is’ in line 34 and insert ‘Any other dividend’.

96, in schedule 14, page 137, line 14, leave out ‘apart from’ and insert ‘otherwise than by virtue of’.

97, in schedule 14, page 137, line 17, leave out from beginning to ‘is’ in line 18 and insert ‘Any other dividend’.

98, in schedule 14, page 138, line 18, leave out from ‘that’ to end of line 20 and insert

‘does not fall into an exempt class by virtue of section 930E but would, apart from this section, fall into an exempt class otherwise than by virtue of that section.’.

99, in schedule 14, page 138, line 46, at end insert—

‘930MA Schemes involving distributions for which deductions are given

(1) This section applies to a dividend or other distribution that would, apart from this section, fall into an exempt class.

(2) The distribution does not fall into an exempt class if—

(a) the distribution is made as part of a tax advantage scheme, and

(b) the following condition is met.

(3) The condition is that a deduction is allowed to a resident of any territory outside the United Kingdom under the law of that territory in respect of an amount determined by reference to the distribution.’.—(Mr. Timms.)