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Finance Bill committee hearings: a report from behind the sofa
KEY POINTS
- Bonds for care home fees not affected by new limits.
- Doubts over whether transfer of assets abroad legislation will be EU-compliant.
- Disguised interest rules may permit greater simplification in future.
- Video games relief delayed for EU state aid approval.
Qualifying policies
The eighth sitting of the Finance Bill committee continued with a conversation about qualifying insurance policies where Catherine McKinnell for the opposition and Exchequer Secretary David Gauke for the government were both clearly reading from briefs provided for them by the CIOT and the Treasury respectively.
Clause 25 and Sch 9 to the bill insert a premium limit of £3 600 for new qualifying insurance policies taken out after 6 April 2013 with transitional rules for those issued after 21 March 2013.
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