Finance Act 1993
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
180 Underwriting profits to be relevant UK earnings etc.
(1) In relation to any member, all profits arising to him from his underwriting business— (a) shall be treated for the purposes of the Income Tax Acts as immediately derived from the carrying on by him of that business, and (b) accordingly, shall constitute— (i) for the purposes of Part 4 of the Finance Act 2004, relevant UK earnings within section 189(2)(b) of that Act, and (ii) income in relation to which the treatment in section 836(2) of ITA 2007 does not apply. (2) This section does not apply in relation to profits of the year 1992-93 or earlier years of assessment.
180 Underwriting profits to be relevant UK earnings etc.
(1) In relation to any member, all profits arising to him from his underwriting business— (a) shall be treated for the purposes of the Income Tax Acts as immediately derived from the carrying on by him of that business, and (b) accordingly, shall constitute— (i) for the purposes of Part 4 of the Finance Act 2004, relevant UK earnings within section 189(2)(b) of that Act, and (ii) income in relation to which the treatment in section 836(2) of ITA 2007 does not apply. (2) This section does not apply in relation to profits of the year 1992-93 or earlier years of assessment.
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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