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Finance Bill: oil companies' supplementary charge amended

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A Committee of the whole House debated the Finance Bill for ten hours until 3 am this morning.

A Committee of the whole House debated the Finance Bill for ten hours until 3 am this morning.

Clauses 72 (bank levy) and 19 (fuel duties) were passed without amendment. Clause 7 (increase in rate of supplementary charge) was amended to allow companies to opt for an alternative method of apportioning profits where an accounting period straddles 24 March 2011.

The Committee of the whole House is set to consider clauses 4, 10 and 35 today. The remainder of the Bill will be committed to a Public Bill Committee.

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