Finance Act 2005
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 Amount of relief
(1) The trustees' liability to income tax for the tax year is to be reduced by an amount equal to— TQTI - VQTI where— TQTI is an amount determined in accordance with section 27 (income tax liability of trustees in respect of qualifying trusts income), and VQTI is an amount determined in accordance with section 28 (extra income tax to which vulnerable person would be liable if qualifying trusts income were income of his). (2) The tax reduction is given effect at Step 6 of the calculation in section 23 of ITA 2007.
26 Amount of relief
(1) The trustees' liability to income tax for the tax year is to be reduced by an amount equal to— TQTI - VQTI where— TQTI is an amount determined in accordance with section 27 (income tax liability of trustees in respect of qualifying trusts income), and VQTI is an amount determined in accordance with section 28 (extra income tax to which vulnerable person would be liable if qualifying trusts income were income of his). (2) The tax reduction is given effect at Step 6 of the calculation in section 23 of ITA 2007.
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.