Finance Act 2020
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
26 Quarterly instalment payments
(1) The Corporation Tax (Instalment Payments) Regulations 1998 (S.I. 1998/3175) are amended as follows. (2) At the end of regulation 3 (large and very large companies) insert— (11) A company which— (a) is chargeable to corporation tax for an accounting period only because of a chargeable gain accruing to the company on the disposal of an asset, and (b) would, apart from this paragraph, be a very large company by virtue of this regulation in respect of the accounting period, is to be treated for the purposes of these regulations as if it were a large company by virtue of paragraph (1). (3) In regulation 3(10), in the words before paragraph (a), after “12 months” insert “ and paragraph (11) does not apply ”. (4) The amendments made by this section have effect in relation to accounting periods beginning on or after 11 March 2020.
26 Quarterly instalment payments
(1) The Corporation Tax (Instalment Payments) Regulations 1998 (S.I. 1998/3175) are amended as follows. (2) At the end of regulation 3 (large and very large companies) insert— (11) A company which— (a) is chargeable to corporation tax for an accounting period only because of a chargeable gain accruing to the company on the disposal of an asset, and (b) would, apart from this paragraph, be a very large company by virtue of this regulation in respect of the accounting period, is to be treated for the purposes of these regulations as if it were a large company by virtue of paragraph (1). (3) In regulation 3(10), in the words before paragraph (a), after “12 months” insert “ and paragraph (11) does not apply ”. (4) The amendments made by this section have effect in relation to accounting periods beginning on or after 11 March 2020.
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.