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Finance Bill

We announced our intention to make that minor change on 31 January, when we published the draft of what is now clause 43. Since that date, neither the Government nor HM Revenue and Customs have received a single representation or query on the provisions, which is unsurprising because the provisions will make little difference in practice. If the hon. Gentleman is concerned—nobody else appears to be—I will be happy to write to him. Any companies affected by the change can only benefit from it, and it will provide business with a degree of certainty to ensure that there is consistency between the UK’s double taxation relief rules and the amended parent-subsidiary directive.