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Make mine a pint

06 August 2013 / Allison Plager
Issue: 4414 / Categories: Comment & Analysis , Admin , Budget/Finance Act

More high jinks from the public bill committee’s debate of the Finance Bill

KEY POINTS

  • Corporate tax avoidance measures.
  • New regime for community amateur sports clubs.
  • Should CASCs be exempted from PAYE?
  • Providing clarity for pension savers.

After its discussion of real estate investment trusts covered in Taxation’s previous report on the public bill committee’s dissection of the Finance Bill the tenth sitting considered some anti-avoidance provisions.

Clause 39 “corporate tax relief for employee share acquisitions” clarified the rules relating to corporation tax deductions available where companies grant share options or award shares to employees. David Gauke exchequer secretary to the Treasury said the purpose of the clause was to ensure that companies could not “exploit legislation to gain unintended tax advantages”. He said the measure confirmed:

“That other than in specified circumstances no deduction is available for share...

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