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Finance Act 2009

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

What to do with it
As published

68 Employment loss relief

(1) In section 128 of ITA 2007 (employment loss relief against general income), after subsection (5) insert— (5A) No claim may be made in respect of the loss if and to the extent that it is made as a result of anything done in pursuance of arrangements the main purpose, or one of the main purposes, of which is the avoidance of tax. (2) The amendment made by subsection (1)— (a) has effect in relation to a loss made in the tax year 2009-10 or a subsequent tax year, and (b) has effect in relation to a loss made in the tax year 2008-09 if or to the extent that it is occasioned by an act or omission occurring on or after 12 January 2009. (3) Where a person has made a claim under section 128 of ITA 2007 during the relevant period, no penalty is payable by the person on the ground that any return, statement or declaration made in connection with the claim contained an inaccuracy if it would not have done so but for the amendment made by subsection (1). For this purpose “the relevant period” is the period— (a) beginning with 12 January 2009, and (b) ending with 1 April 2009. (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Your change, as a redline

68 Employment loss relief

(1) In section 128 of ITA 2007 (employment loss relief against general income), after subsection (5) insert— (5A) No claim may be made in respect of the loss if and to the extent that it is made as a result of anything done in pursuance of arrangements the main purpose, or one of the main purposes, of which is the avoidance of tax. (2) The amendment made by subsection (1)— (a) has effect in relation to a loss made in the tax year 2009-10 or a subsequent tax year, and (b) has effect in relation to a loss made in the tax year 2008-09 if or to the extent that it is occasioned by an act or omission occurring on or after 12 January 2009. (3) Where a person has made a claim under section 128 of ITA 2007 during the relevant period, no penalty is payable by the person on the ground that any return, statement or declaration made in connection with the claim contained an inaccuracy if it would not have done so but for the amendment made by subsection (1). For this purpose “the relevant period” is the period— (a) beginning with 12 January 2009, and (b) ending with 1 April 2009. (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Who it helps, what it costs, what it fixes. It is what persuades people to support it.

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