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
42 Application in relation to Scotland
(1) This Chapter applies in relation to Scotland with the following modifications. (2) In section 23(5), for “trusts on which property is held for the benefit of a vulnerable person are qualifying trusts” substitute “ property held in trust for the benefit of a vulnerable person is held in qualifying trust ”. (3) In section 31(3)(a), for “on the qualifying trusts” substitute “ in qualifying trust (in the same trust as the settled property disposed of) ”. (4) In section 34— (a) in subsection (1), for “those trusts are qualifying trusts if they” substitute “ the property is held in qualifying trust if the trust purposes ”, and (b) in subsection (4), for “on trusts” substitute “ in a trust ”. (5) In section 35— (a) in subsection (1), for “those trusts are qualifying trusts if they are” substitute “ the property is held in qualifying trust if the trust is ”, (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (c) in subsection (2), before “which” insert “ the purposes of ”. (6) In section 36, for “the trusts on which it is held are qualifying trusts” substitute “ it is held in qualifying trust ”. (7) In section 37— (a) in subsection (1), for paragraph (b) substitute— (b) property held in the trust in relation to which the election is made is held in qualifying trust. , (b) in subsection (3)(b), for “the trusts in relation to which the election is made are qualifying trusts” substitute “ property held in the trust in relation to which the election is made is held in qualifying trust ”, and (c) in subsection (5), for paragraph (b) substitute— (b) property held in the trust in relation to which the election is made ceases to be held in qualifying trust, . (8) Sections 34(3) and 35(4) do not apply to Scotland (9) Unless otherwise modified by this section, any reference to anything being held on trusts is to be construed as a reference to it being held in trust. (10) Unless otherwise modified or disapplied by this section, any reference to trusts is to be construed as a reference to a trust or the trust (as appropriate).
42 Application in relation to Scotland
(1) This Chapter applies in relation to Scotland with the following modifications. (2) In section 23(5), for “trusts on which property is held for the benefit of a vulnerable person are qualifying trusts” substitute “ property held in trust for the benefit of a vulnerable person is held in qualifying trust ”. (3) In section 31(3)(a), for “on the qualifying trusts” substitute “ in qualifying trust (in the same trust as the settled property disposed of) ”. (4) In section 34— (a) in subsection (1), for “those trusts are qualifying trusts if they” substitute “ the property is held in qualifying trust if the trust purposes ”, and (b) in subsection (4), for “on trusts” substitute “ in a trust ”. (5) In section 35— (a) in subsection (1), for “those trusts are qualifying trusts if they are” substitute “ the property is held in qualifying trust if the trust is ”, (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (c) in subsection (2), before “which” insert “ the purposes of ”. (6) In section 36, for “the trusts on which it is held are qualifying trusts” substitute “ it is held in qualifying trust ”. (7) In section 37— (a) in subsection (1), for paragraph (b) substitute— (b) property held in the trust in relation to which the election is made is held in qualifying trust. , (b) in subsection (3)(b), for “the trusts in relation to which the election is made are qualifying trusts” substitute “ property held in the trust in relation to which the election is made is held in qualifying trust ”, and (c) in subsection (5), for paragraph (b) substitute— (b) property held in the trust in relation to which the election is made ceases to be held in qualifying trust, . (8) Sections 34(3) and 35(4) do not apply to Scotland (9) Unless otherwise modified by this section, any reference to anything being held on trusts is to be construed as a reference to it being held in trust. (10) Unless otherwise modified or disapplied by this section, any reference to trusts is to be construed as a reference to a trust or the trust (as appropriate).
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.