§ Mr. BarberI beg to move, in page 32, line 44, at the end to add:
(6) This section applies and applies only to discontinuances occurring after the fifth day of April, nineteen hundred and sixty.Clause 34 introduces new rules for the valuation of work in progress at the discontinuance of a profession or vocation, and also deals in certain minor respects with Section 143 of the Income Tax Act, 1952, concerning the valuation of stock in trade. It has been pointed out that, as drafted, the Clause leaves considerable uncertainty as to its operative date, and the Amendment therefore makes it clear that it is to apply, and to apply only, to discontinuance occurring after 5th April, 1960.
§ Mr. DiamondI rise only to make absolutely sure that this is not introducing a new provision but is merely underlining or clarifying what is already in the Clause. It is making the Government's views about retrospection painfully clear but is not bringing in anything that is not already contained in the Clause.
§ Mr. BarberI agree entirely with the hon. Gentleman, except that I would have said that it was making the Government's views agreeably clear.
§ Amendment agreed to.
§ Clause, as amended, ordered to stand part of the Bill.