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
As published
59 EBTs: restriction on proportion of beneficiaries who may be participators etc
(1) IHTA 1984 is amended as follows.
(2) In section 13 (dispositions by close companies for benefit of employees), after subsection (4) insert—
(4A) Subsection (4)(a) does not apply if, immediately after the disposition of property mentioned in subsection (1), more than 25% of relevant beneficiaries are (disregarding subsection (4)(a)) persons falling within subsection (2)(a) to (d).
(4B) In subsection (4A) “relevant beneficiary” means a person who—
(a) is a person for whose benefit the trusts permit the property to be applied, and
(b) is a person employed by or holding office with the company mentioned in subsection (1).
.
(3) In section 28 (employee trusts), after subsection (6) insert—
(6A) Subsection (6) does not apply if, immediately after the transfer of value mentioned in subsection (1), more than 25% of relevant beneficiaries are (disregarding subsection (6)) persons falling within subsection (4)(a) to (d).
(6B) In subsection (6A) “relevant beneficiary” means a person who—
(a) is a person for whose benefit the trusts permit the settled property to be applied, and
(b) is a person employed by or holding office with the company mentioned in subsection (1).
.
(4) In section 75 (exemption from charge under section 65 where property becomes subject to employee benefit trust), in subsection (3), in the opening words, after “section 28(4)” insert “and (6A)”.
(5) This section is treated as having come into force on 30 October 2024.
Your change, as a redline
59 EBTs: restriction on proportion of beneficiaries who may be participators etc
(1) IHTA 1984 is amended as follows.
(2) In section 13 (dispositions by close companies for benefit of employees), after subsection (4) insert—
(4A) Subsection (4)(a) does not apply if, immediately after the disposition of property mentioned in subsection (1), more than 25% of relevant beneficiaries are (disregarding subsection (4)(a)) persons falling within subsection (2)(a) to (d).
(4B) In subsection (4A) “relevant beneficiary” means a person who—
(a) is a person for whose benefit the trusts permit the property to be applied, and
(b) is a person employed by or holding office with the company mentioned in subsection (1).
.
(3) In section 28 (employee trusts), after subsection (6) insert—
(6A) Subsection (6) does not apply if, immediately after the transfer of value mentioned in subsection (1), more than 25% of relevant beneficiaries are (disregarding subsection (6)) persons falling within subsection (4)(a) to (d).
(6B) In subsection (6A) “relevant beneficiary” means a person who—
(a) is a person for whose benefit the trusts permit the settled property to be applied, and
(b) is a person employed by or holding office with the company mentioned in subsection (1).
.
(4) In section 75 (exemption from charge under section 65 where property becomes subject to employee benefit trust), in subsection (3), in the opening words, after “section 28(4)” insert “and (6A)”.
(5) This section is treated as having come into force on 30 October 2024.
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.
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.