British Technology Group Act 1991
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
12 Corporation tax.
(1) Subject to subsection (2) below, the successor company shall be treated for the purposes of the Corporation Tax Acts as if it were the same person as the Corporation and the Board. (2) Notwithstanding subsection (1) above, section 8 of the Taxation of Chargeable Gains Act 1992 (computation of chargeable gains) shall apply to the successor company without regard to any allowable losses of the Corporation or the Board. (3) Any share issued by the successor company in pursuance of section 3 above shall be treated for the purposes of the Corporation Tax Acts as if it had been issued wholly in consideration of a subscription paid to that company of an amount equal to the nominal value of the share. (4) Any debenture issued by the successor company in pursuance of that section shall be treated for the purposes of those Acts as if it had been issued— (a) wholly in consideration of a loan made to that company of an amount equal to the principal sum payable under the debenture; and (b) wholly and exclusively for the purposes of the trade carried on by that company.
12 Corporation tax.
(1) Subject to subsection (2) below, the successor company shall be treated for the purposes of the Corporation Tax Acts as if it were the same person as the Corporation and the Board. (2) Notwithstanding subsection (1) above, section 8 of the Taxation of Chargeable Gains Act 1992 (computation of chargeable gains) shall apply to the successor company without regard to any allowable losses of the Corporation or the Board. (3) Any share issued by the successor company in pursuance of section 3 above shall be treated for the purposes of the Corporation Tax Acts as if it had been issued wholly in consideration of a subscription paid to that company of an amount equal to the nominal value of the share. (4) Any debenture issued by the successor company in pursuance of that section shall be treated for the purposes of those Acts as if it had been issued— (a) wholly in consideration of a loan made to that company of an amount equal to the principal sum payable under the debenture; and (b) wholly and exclusively for the purposes of the trade carried on by that company.
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.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.