Finance Act 2014
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
130 General betting duty charge on non-financial spread bets
(1) General betting duty is charged on a non-financial spread bet made with a bookmaker who is in the United Kingdom. (2) It is charged at the rate of 10% of the bookmaker's profits on non-financial spread bets for an accounting period. (3) The bookmaker's profits on non-financial spread bets for an accounting period are the aggregate of— (a) the amount of the bookmaker's ordinary profits for the period in respect of non-financial spread bets (calculated in accordance with section 131), and (b) the amount of the bookmaker's retained winnings profits for the period in respect of non-financial spread bets (calculated in accordance with section 132). (4) Where the calculation for an accounting period under subsection (3) produces a negative amount— (a) the bookmaker's profits on non-financial spread bets for the accounting period are treated as nil, and (b) the amount produced by the calculation may be carried forward in reduction of the bookmaker's profits on non-financial spread bets for one or more later accounting periods.
130 General betting duty charge on non-financial spread bets
(1) General betting duty is charged on a non-financial spread bet made with a bookmaker who is in the United Kingdom. (2) It is charged at the rate of 10% of the bookmaker's profits on non-financial spread bets for an accounting period. (3) The bookmaker's profits on non-financial spread bets for an accounting period are the aggregate of— (a) the amount of the bookmaker's ordinary profits for the period in respect of non-financial spread bets (calculated in accordance with section 131), and (b) the amount of the bookmaker's retained winnings profits for the period in respect of non-financial spread bets (calculated in accordance with section 132). (4) Where the calculation for an accounting period under subsection (3) produces a negative amount— (a) the bookmaker's profits on non-financial spread bets for the accounting period are treated as nil, and (b) the amount produced by the calculation may be carried forward in reduction of the bookmaker's profits on non-financial spread bets for one or more later accounting periods.
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.