Finance Bill Debates

Alan Dolton

Alan Dolton Editor of Tolley's Tax Cases continues our coverage of the Public Bill Committee debates on the Finance Bill

The House of Commons Public Bill Committee resumed its consideration of the Finance Bill on Tuesday 15 May discussing Clause 17 (Corporation tax deduction for expenditure on energy-saving items). The Chief Secretary (Stephen Timms) explained:

'We will lay regulations introducing the same conditions for corporation tax that are already in place under the existing allowance for income tax and the regulations will set the maximum deduction available at £1 500 per property per year and provide for that deduction to be apportioned in cases of joint ownership. … From 2008 energy performance certificates will be introduced in the private rented sector for every home bought sold...

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Alan Dolton Editor of Tolley's Tax Cases continues our coverage of the Public Bill Committee debates on the Finance Bill

'We will lay regulations introducing the same conditions for corporation tax that are already in place under the existing allowance for income tax and the regulations will set the maximum deduction available at £1 500 per property per year and provide for that deduction to be apportioned in cases of joint ownership. … From 2008 energy performance certificates will be introduced in the private rented sector for every home bought sold...

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes: