Finance Act 2004
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
185B Annual profits and deemed profits
(1) For the purposes of section 185A(3) the amount of the annual profits from the interest in the property is the total amount of profits received from the interest in the tax year— (a) by each person who holds the interest directly, and (b) at a time when the property is scheme-held taxable property. (2) For the purposes of section 185A(3) and (4) the amount of the deemed profits from the interest in the property for the tax year is— DMV10×DTPDY where— DMV is the deemed market value of the interest in the property for the year (see section 185C), DTP is the number of days in the year for which the property is scheme-held taxable property, and DY is the number of days in the year. (3) In this Part “scheme-held taxable property” means property— (a) which is taxable property, and (b) an interest in which is held by the pension scheme.
185B Annual profits and deemed profits
(1) For the purposes of section 185A(3) the amount of the annual profits from the interest in the property is the total amount of profits received from the interest in the tax year— (a) by each person who holds the interest directly, and (b) at a time when the property is scheme-held taxable property. (2) For the purposes of section 185A(3) and (4) the amount of the deemed profits from the interest in the property for the tax year is— DMV10×DTPDY where— DMV is the deemed market value of the interest in the property for the year (see section 185C), DTP is the number of days in the year for which the property is scheme-held taxable property, and DY is the number of days in the year. (3) In this Part “scheme-held taxable property” means property— (a) which is taxable property, and (b) an interest in which is held by the pension scheme.
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.