Finance (No. 2) Act 2023
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
150A Instruments held intragroup: issuer’s accounting treatment to prevail
If— (a) a member of a multinational group (“the holder”) holds an interest (of any description) in another member of the group (“the issuer”), and (b) the interest is accounted for as equity in the underlying profits accounts of one of the members and as debt in the underlying profits accounts of the other, the underlying profits of the holder are to be adjusted to what they would be if the interest were accounted for in the holder’s underlying profits accounts in the same way as it is accounted for in the issuer’s.
150A Instruments held intragroup: issuer’s accounting treatment to prevail
If— (a) a member of a multinational group (“the holder”) holds an interest (of any description) in another member of the group (“the issuer”), and (b) the interest is accounted for as equity in the underlying profits accounts of one of the members and as debt in the underlying profits accounts of the other, the underlying profits of the holder are to be adjusted to what they would be if the interest were accounted for in the holder’s underlying profits accounts in the same way as it is accounted for in the issuer’s.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
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