House of Commons Amendments

Session 2010 - 12
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Other Bills before Parliament

2501

House of Commons

Notices of Amendments

given up to and including

Thursday 30 June 2011

New Amendments handed in are marked thus

Consideration of Bill

Finance (No. 3) Bill, As Amended

New Clauses

High cost credit lending

Ed Balls

Ms Angela Eagle

Mr David Hanson

Chris Leslie

Kerry McCarthy

Stella Creasy

Total signatories: 12

NC11

To move the following Clause:—

‘The Government shall lay before Parliament a review of all taxation measures

contained in this Act that are applicable to those judged by the Financial Services

Authority (or its successor body) to engage in high cost credit lending. This

review shall consider the following matters—

(a)
the nature of the high cost credit market and the proliferation of lending

practices which are detrimental to consumers and or competition in the

provision of credit to consumers;

(b)
the impact that taxation could have on the provision of high cost credit in

the UK which is detrimental to consumers and or competition in the

provision of credit to consumers;

(c)
whether changes to taxation could discourage lending in a manner which

is detrimental to consumers and undermines competition in the provision

of credit to consumers; and

(d)
other measures relevant to the high cost credit lending sector that may

prevent consumer detriment.’.

Notices of Amendments: 30 June 2011
2502

Finance (No. 3) Bill, continued

Report on capital allowances

Nigel Mills

NC12

To move the following Clause:—

‘The Chancellor shall direct the Office of Tax Simplification to report by 31

March 2012 on the options for simplifying or replacing the capital allowances

regime with a view to ensuring businesses obtain tax relief for capital assets over

a period more closely matched to the useful life of those assets.’.

Windfall tax on nuclear power operators

Caroline Lucas

Jonathan Edwards

NC13

To move the following Clause:—

‘The Treasury shall by regulations recover all profits to operators of nuclear

power plants resulting from the Carbon Price Support Mechanism through a

windfall tax designed for that purpose.’.

Group filing for corporation tax

Nigel Mills

NC14

To move the following Clause:—

‘The Chancellor shall direct the Office of Tax Simplification to report by 31

March 2012 on the potential for the introduction of a consolidated corporation tax

filing for UK-resident companies meeting the current definition of a group for

corporation tax purposes, to include an assessment of the potential cost savings

for companies and HMRC, and the potential for reducing tax avoidance.’.

Value Added Tax (Reduced Rate) Order 2011

Hywel Williams

Jonathan Edwards

NC15

To move the following Clause:—

‘(1)
The Chancellor of the Exchequer shall make an order to amend Schedule 7A of

the Value Added Tax Act 1994 (Charge at Reduced Rate) to include maintenance

Notices of Amendments: 30 June 2011
2503

Finance (No. 3) Bill, continued

and home improvement work as services for which VAT should be charged at a

reduced rate of 5 per cent..

(2)
“Maintenance and home improvement work” means improvement work carried

out on a property which is—

(a)
a single household dwelling,

(b)
a multiple occupancy dwelling,

(c)
a building, or part of a building, which, when it was last lived in, was used

for a relevant residential purpose and is classed as residential, or

(d)
a building where a change to residential use has been granted.

(3)
This Order shall be known as the the Value Added Tax (Reduced Rate) Order

2011 and shall come into force on 30 August 2011.’.

Temporary reduction to VAT rate

Ed Balls

Ms Angela Eagle

Mr David Hanson

Chris Leslie

Kerry McCarthy

NC16

To move the following Clause:—

‘(1)
In section 2(1) of the Value Added Tax Act 1994 (Rate of VAT) for “20 per cent.”

substitute “17.5 per cent.”.

(2)
Subsection (1) shall have effect from Royal Assent and shall expire at such time

as the Government presents to Parliament a report stating that the UK economy

has returned to strong growth.’.

Ed Balls

Ms Angela Eagle

Mr David Hanson

Chris Leslie

Kerry McCarthy

10

Page  1,  line  9  [Clause  1],  at end insert—

‘(3)
By 31 March 2012 the Office of Budget Responsibility, in consultation with

HMRC, will report to Parliament on the revenue of the 50 per cent. rate of income

tax and its impact on the UK economy.’.

John McDonnell

14

Page  1,  line  9  [Clause  1],  at end insert—

‘(3)
A report on the impact of the current rates of income tax on inequality in the

United Kingdom, also taking into consideration all other direct and indirect taxes

including duties and excises, council taxes and mandatory charges for the use of

cars and televisions and making specific reference to the overall tax rate of

taxpayers grouped by decile in the United Kingdom and by each individual

Notices of Amendments: 30 June 2011
2504

Finance (No. 3) Bill, continued

constituent country shall be prepared by HM Treasury and laid before the House

of Commons not later than 1 December 2011.’.

Mr Frank Field

Mr David Blunkett

John Mann

Kate Hoey

John McDonnell

Kate Green

Total signatories: 7

Hugh Bayley

30

Page  1,  line  9  [Clause  1],  at end insert—

‘(3)
All public sector employees whose earned income does not exceed £21,000 shall

be entitled to a £250 reduction in tax liability for the tax year 2011-12.’.

John McDonnell

15

Page  2,  line  16  [Clause  4],  leave out ‘is treated as having come into force on 1 April

2011’ and insert ‘shall come into effect when legislation shall have been enacted requiring

that all public limited companies registered in the United Kingdom shall be required to

submit the arrangements for the payment of salaries and bonuses of their directors to a

binding vote of approval by their shareholders at an Annual General Meeting.’.

John McDonnell

20

Page  2,  line  16  [Clause  4],  leave out ‘is treated as having come into force on 1 April

2011’ and insert ‘shall come into effect when legislation shall have been enacted requiring

all public limited companies registered in the United Kingdom to publish the current

salaries and bonuses of their directors.’.

Malcolm Bruce

51


Page  4,  line  6  [Clause  7],  at end insert—

‘(10A)
The Chancellor shall produce, before 30 August 2011, a report on the

Government’s discussions with the industry on the implementation of the

increased charge’.

John McDonnell

16

Page  5,  line  8  [Clause  9],  leave out ‘on or after 6 April 2011’ and insert ‘when a

comprehensive report of HM Treasury on the impact of tax lost to HM Treasury as a result

of the striking off of companies from the Register of Companies, whether voluntarily or

Notices of Amendments: 30 June 2011
2505

Finance (No. 3) Bill, continued

as a result of the actions of the Registrar of Companies, is laid before this House with

recommendations being made on how the number of such companies struck off the

Register as a consequence of failure to comply with the requirements of the law can be

curtailed and how the resulting loss of taxation to the Exchequer can be minimised’.

John McDonnell

17

Page  27,  line  4  [Clause  42],  after ‘appoint’, insert ‘after a Report has been

submitted to the House of Commons detailing the number of EIS schemes previously

approved, their total cost in terms of tax relief, the number of jobs created by the

companies enjoying such relief and the number of companies that failed subsequent to

relief being granted allowing for an estimate to be made of the cost of each job created

under the terms of this scheme when compared to the cost of tax relief given.’.

Mr Tom Watson

9

Page  27,  line  35  [Clause  43],  at end insert—

‘(11A)
In section 1052 in subsection (2) after paragraph (a) insert—

“(e)
incurred on premises costs

(f)
incurred on design costs

(g)
incurred on patent, trade mark, registered design, copyright,

design right or plant breeder’s right (see section 1139)”.

(11B)
After section 1142 add—

“1142A
Premises costs

(1)
In this part “premises costs” means rents and business rates costs of the

studio where R&D is undertaken.

1142B
Design costs

(1)
In this Part “design costs” means—

(a)
user interface costs,

(b)
user testing costs,

(c)
aesthetic costs,

(d)
new business model costs.

(2)
In subsection (1)(a) “user interface costs” means—

(a)
costs occurred from designing the visual and functional

appearance of the application,

(b)
costs occurred from designing the code that reacts to user inputs.

(3)
In subsection (1)(b) “user testing costs” means—

(a)
costs occurred during product testing.

(4)
In subsection (1)(c) “aesthetic costs” means—

(a)
costs occurred from the artistic design of the product.

Notices of Amendments: 30 June 2011
2506

Finance (No. 3) Bill, continued

(5)
In subsection (1)(d) “new business model costs” means—

(a)
marketing of building a new business monetisation model,

(b)
marketing of testing a new business monetisation model.”’.

John McDonnell

18

Page  28,  line  14  [Clause  47],  at end insert ‘and shall have effect when a Report is

submitted to the House of Commons detailing progress made by HM Treasury in securing

powers to obtain information on the activities of UK resident taxpayers in tax havens,

progress made by the United Kingdom in securing rapid implementation of the proposed

changes to the European Union Savings Tax Directive and progress made in securing

information exchange under all tax information exchange agreements signed since 2005,

including the number of information exchanges made with each territory with which such

an agreement has been signed, the nature of the enquiry made in each case, the

approximate amount of tax involved and the success of the jurisdiction in question in

supplying the information requested.’.

John McDonnell

19

Page  42,  line  30  [Clause  73],  at end insert ‘and shall have effect when a

comprehensive report of HM Treasury on the potential for the introduction of a financial

transaction tax based upon an average rate of 0.05 per cent. applied to individuals and

institutions trading in financial products including stocks, bonds, currencies,

commodities, futures and options, is laid before this House.’.

Ed Balls

Ms Angela Eagle

Mr David Hanson

Chris Leslie

Kerry McCarthy

13

Page  42,  line  30  [Clause  73],  at end insert—

‘(2)
The Chancellor of the Exchequer shall review the possibility of incorporating a

bank payroll tax within the bank levy and publish a report, within six months of

the passing of this Act, on how the additional revenue raised would be invested

to create new jobs and tackle unemployment.’.

Notices of Amendments: 30 June 2011
2507

Finance (No. 3) Bill, continued

John McDonnell

31

Page  42,  line  30  [Clause  73],  at end insert—

‘(2)
The Chancellor of the Exchequer shall review the possibility of incorporating a

bank financial transaction tax within the bank levy, levied on trading in financial

products including stocks, bonds, currencies, commodities, futures and options

and publish a report within six months of the passing of this Act, on how the

additional revenue raised would be invested to tackle unemployment and reduce

poverty in the United Kingdom and to assist in tackling deprivation in the

developing world.’.

Ed Balls

Ms Angela Eagle

Mr David Hanson

Chris Leslie

Kerry McCarthy

Nic Dakin

Total signatories: 10

Dr Alan Whitehead
Tom Blenkinsop

12

Page  45,  line  5  [Clause  78],  at end insert—

‘(2)
The Schedule shall not come into force except as specified in subsection (3)

below.

(3)
The Chancellor of the Exchequer shall bring the Schedule into force by order

within six months of the passing of this Act.

(4)
A statutory instrument containing an order under subsection (3) shall be

accompanied by a report which details—

(a)
any effective subsidy provided to, or additional profits accruing to,

operators of existing and new nuclear power stations as a result of the

provisions in the Schedule;

(b)
the immediate impact of the provisions in the Schedule on consumers and

on fuel poverty;

(c)
the immediate impact of the provisions in the Schedule on energy-using

manufacturing industries and on employment in those industries;

(d)
the expected effect of the provisions in the Schedule on investment in

new renewable power generation and on investment in new nuclear

power generation;

(e)
the measures that the Chancellor intends to adopt in a future Finance Bill

in order to recoup any effective subsidy to or additional profits accruing

to the nuclear industry as a result of the Schedule; and

(f)
how the monies raised by those measures will be used to mitigate the

immediate impact of the Schedule on consumers and on manufacturing

industries and to encourage green investment.’.



© Parliamentary copyright	Revised 1 July 2011