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
40 Power to make enquiries
(1) Where a vulnerable person election has been made the Inland Revenue may by notice require the trustees or the vulnerable person by whom the election was made to furnish them with such particulars as they may reasonably require for the purposes of determining— (a) whether the requirements mentioned in subsection (1)(a) and (b) of section 37 were met at the time the election was made, and (b) whether an event mentioned in subsection (5) of that section has occurred since the effective date. (2) The notice must specify the time within which the information must be furnished (not being less than 60 days). (3) If the Board of Inland Revenue determine— (a) that either or both of the requirements mentioned in subsection (1)(a) and (b) of section 37 were not met at the time the election was made, or (b) that an event mentioned in subsection (5) of that section has occurred since the effective date of the election, they may give notice to the trustees and the person in relation to whom the vulnerable person election was made that the election never had effect or ceased to have effect from a date specified in the notice. (4) A person aggrieved by a determination of the Board of Inland Revenue under subsection (3) may by notice appeal .... (5) The notice of appeal must be given to the Board of Inland Revenue within 30 days after the notice of the determination was given under subsection (3). (6) All such adjustments shall be made, whether by discharge or repayment of tax, the making of assessments or otherwise, as are required to give effect to a determination under subsection (3) (despite any limitation on the time within which any adjustment may be made). (7) In subsection (6) “tax” means income tax or capital gains tax.
40 Power to make enquiries
(1) Where a vulnerable person election has been made the Inland Revenue may by notice require the trustees or the vulnerable person by whom the election was made to furnish them with such particulars as they may reasonably require for the purposes of determining— (a) whether the requirements mentioned in subsection (1)(a) and (b) of section 37 were met at the time the election was made, and (b) whether an event mentioned in subsection (5) of that section has occurred since the effective date. (2) The notice must specify the time within which the information must be furnished (not being less than 60 days). (3) If the Board of Inland Revenue determine— (a) that either or both of the requirements mentioned in subsection (1)(a) and (b) of section 37 were not met at the time the election was made, or (b) that an event mentioned in subsection (5) of that section has occurred since the effective date of the election, they may give notice to the trustees and the person in relation to whom the vulnerable person election was made that the election never had effect or ceased to have effect from a date specified in the notice. (4) A person aggrieved by a determination of the Board of Inland Revenue under subsection (3) may by notice appeal .... (5) The notice of appeal must be given to the Board of Inland Revenue within 30 days after the notice of the determination was given under subsection (3). (6) All such adjustments shall be made, whether by discharge or repayment of tax, the making of assessments or otherwise, as are required to give effect to a determination under subsection (3) (despite any limitation on the time within which any adjustment may be made). (7) In subsection (6) “tax” means income tax or capital gains tax.
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.