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Retrospective Legislation And Section 58(4) Of The Finance Act 2008

EDM number 425 in 2013-14, proposed by Mike Weir on 16/07/2013.
Categorised under the topic of Taxation.

That this House believes retrospective legislation contradicts the principles that underpin a fair and competitive tax regime; further believes that people?s actions should only be judged under the law as it stood at the time; notes with concern that the legal definition of partners and changes to rules regarding double taxation agreements introduced through section 58(4) of the Finance Act 2008 were deemed always to have had effect; further notes that the Chartered Institute of Taxation called this measure extreme and unjustified, the Law Society said it was wrong in principle and the Institute of Chartered Accountants said it sent out a damaging signal about the stability of the UK tax system; further notes HM Treasury?s estimate that up to 2,200 taxpayers are affected by these changes; further notes a survey by the No To Retro Tax campaign which suggests that 38 per cent of those affected will be bankrupted and 47 per cent will have to sell their homes; further notes with concern the explanation that retrospective legislation was introduced in this instance to remove the need for costly and protracted litigation; questions why, if section 58 did not change the legal situation, there was any need to introduce it; further notes previous comments from the Chancellor of the Exchequer that retrospective legislation in tax matters will be confined to wholly exceptional circumstances; further questions in what way this arrangement was exceptional; and further believes that those affected by the legislation should have their actions judged according to the law as it stood at the time.

This motion has been signed by a total of 25 MPs.

MPDateConstituencyPartyType
Michael Weir16/07/2013AngusScottish National PartyProposed
Peter Bottomley16/07/2013Worthing WestConservativeSeconded
Philip Davies16/07/2013ShipleyConservativeSeconded
Elfyn Llwyd17/07/2013Dwyfor MeirionnyddPlaid CymruSeconded
Jeffrey M Donaldson17/07/2013Lagan ValleyDUPSeconded
Graeme Morrice17/07/2013LivingstonLabourSeconded
John Leech18/07/2013Manchester, WithingtonLiberal DemocratSigned
Anne Begg02/09/2013Aberdeen SouthLabourSigned
Pete Wishart08/10/2013Perth and North PerthshireScottish National PartySigned
Mark Williams08/10/2013CeredigionLiberal DemocratSigned
Tom Clarke08/10/2013Coatbridge, Chryston and BellshillLabourSigned
Anne Main10/10/2013St AlbansConservativeSigned
William McCrea14/10/2013South AntrimDUPSigned
Frank Doran16/10/2013Aberdeen NorthLabourSigned
Kate Hoey17/10/2013VauxhallLabourSigned
David Simpson24/10/2013Upper BannDUPSigned
Jim Shannon24/10/2013StrangfordDUPSigned
Mark Field31/10/2013Cities of London and WestminsterConservativeSigned
Albert Owen06/11/2013Ynys MLabourSigned
Robert Syms07/11/2013PooleConservativeSigned
Paul Farrelly07/11/2013Newcastle-under-LymeLabourSigned
Michael Connarty12/11/2013Linlithgow and East FalkirkLabourSigned
Gregory Campbell27/11/2013East LondonderryDUPSigned
Zac Goldsmith12/12/2013Richmond ParkConservativeSigned
Robert Smith29/01/2014West Aberdeenshire and KincardineLiberal DemocratSigned

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