Clause 42 - Plant and machinery allowances: anti-avoidance

Part of Finance Bill – in a Public Bill Committee at 1:30 pm on 14 June 2012.

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Photo of Nigel Mills Nigel Mills Conservative, Amber Valley 1:30, 14 June 2012

I beg to move amendment 34, in clause 42, page 27, line 2, at end add—

‘The Chancellor of the Exchequer shall instruct the Office of Tax Simplification to prepare a report considering whether reforming the capital allowances regime, including by switching to using accounts depreciation, would be a more effective method of tackling avoidance. The report shall be placed in the House of Commons Library.’.