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Tax Treatment Of Contributions And Repayments

Volume 115: debated on Thursday 7 May 1987

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Lords amendment:: No. 35, in page 52, line 47, after "an" insert "allowable".

I beg to move, That this House doth agree with the Lords in the said amendment.

I should inform the House that the amendment involves privilege.

After that ominous warning I must tell the House that the amendment was proposed, for the sake of clarification, by the Opposition in another place. It is designed to make clear that contributions to the deposit protection fund could be deducted from taxable profits. Although I was advised that clause 66 did not need amendment, there is no harm in the amendment. If it could conceivably assist in the avoidance of doubt, I am happy for it to be included in the Bill.

Question put and agreed to.[Special Entry.]