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| New Amendments handed in are marked thus  |
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| Amendments which will comply with the required notice period at their next appearance
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| (Except Clauses 1, 4, 8, 189 and 209, Schedules 1, 23 and 33,
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| and any new Clauses and new Schedules first appearing on the Order Paper not later than
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| Tuesday 17 April 2012 and relating to value added tax)
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| | The Amendments have been arranged in accordance with the Order of the |
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| | Committee [24 April 2012]. |
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| | Amendment (No. 10) proposed, in page 2, line 33, at end add— |
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| | ‘(3) | The Chancellor of the Exchequer shall review the overall impact on families of |
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| | this section compared with other measures the Government is introducing and |
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| | place a copy of the review in the Library of the House of Commons.’.—(Owen |
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| | Question proposed, That the Amendment be made. |
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| Clause 5, page 4, line 12, at end add— |
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| | ‘(3) | The Chancellor of the Exchequer shall review the impact of the corporate tax |
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| | structure including the principal rates and investment allowances on the level of |
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| | business investment, and place a copy of the review in the Library of the House |
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| Clause 5, page 4, line 12, at end add— |
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| | ‘(3) | The Chancellor of the Exchequer shall review the impact of the corporate tax |
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| | structure on different sectors and place a copy of the review in the Library of the |
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| Clause 5, page 4, line 12, at end add— |
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| | ‘(3) | The Chancellor of the Exchequer shall review the impact of the corporation tax |
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| | rate on growth, jobs, and investment in the economy, and produce a plan for jobs |
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| | and growth, which he shall lay before the House of Commons.’. |
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| Clause 6, page 4, line 19, at end add— |
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| | ‘(4) | The Chancellor of the Exchequer shall review the evidence in favour of using |
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| | reductions in the headline rate of corporation tax as a means of promoting long |
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| | term international competitiveness and place a copy of the review in the Library |
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| | of the House of Commons.’. |
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| Clause 7, page 4, line 28, at end add— |
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| | ‘(4) | The Chancellor of the Exchequer shall review the impact of the corporate tax |
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| | structure on businesses of different sizes, and shall place a copy of the review in |
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| | the Library of the House of Commons.’. |
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| Clause 9, page 5, line 44, at end add— |
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| | ‘(9) | The Chancellor of the Exchequer shall review the ability of HMRC to deliver the |
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| | anti-avoidance measures contained in this section and lay a report of his review |
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| Clause 18, page 11, line 30, at end add— |
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| | ‘(3) | HM Revenue and Customs shall draw up plans to ensure that investors who are |
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| | eligible to receive interest payments gross are made aware of the need to register |
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| | with their account provider, to ensure that they do not overpay income tax.’. |
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| Clause 19, page 11, line 36, at end add— |
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| | ‘(2) | The Chancellor of the Exchequer shall review the impact of this provision on |
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| | businesses and shall consider where there are other opportunities to introduce |
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| | targeted support for business. A copy of the report shall be placed in the House of |
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| Schedule 3, page 185, line 3, at end insert— |
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| | ‘37A (1) | Section 1074 (“Additional deduction in calculating profits of trade”) is |
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| | (2) | In section (i) leave out “and C” and insert “C and D”. |
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| | (3) | After subsection (4) insert— |
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| | “(4A) | Condition D is that any intellectual property created as a result of the |
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| | research and development is or will be vested in a company whose |
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| | income is within the change to corporation tax”.’. |
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| Clause 23, page 14, line 36, leave out subsections (8) to (12). |
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| Clause 24, page 15, line 32, leave out ‘moving into tonnage tax’ and insert ‘joining |
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| Clause 24, page 15, line 34, leave out ‘moving into tonnage tax’ and insert |
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| ‘joining tonnage tax group’. |
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| Clause 24, page 15, line 36, leave out from ‘if’ to end of line 38 and insert ‘— |
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| | (a) | on that day A becomes a member of a tonnage tax group for the purposes |
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| | of Schedule 22 to FA 2000 without entering tonnage tax on that day, or |
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| | (b) | the day ends immediately before the day on which, for the purposes of |
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| | that Schedule, A both becomes a member of a tonnage tax group and |
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| Clause 24, page 16, line 26, leave out ‘moving into tonnage tax’ and insert ‘joining |
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| Clause 24, page 16, line 28, at end insert— |
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| | ‘(7A) | In Schedule 22 to FA 2000 (tonnage tax), after paragraph 79 insert— |
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| | “79A (1) | This paragraph applies if— |
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| | (a) | a balancing charge under this Part of this Schedule arises to |
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| | the company on the disposal of any plant or machinery, and |
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| | (b) | the plant or machinery is taken into account in calculating |
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| | income that the company is treated as receiving under section |
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| | 383 or 417 of the Corporation Tax Act 2010 (sales of lessors) |
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| | as a result of section 394ZA of that Act (company joining |
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| | (2) | The balancing charge is to be reduced by the relevant part of the sales |
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| | of lessors expense so far as relief has not previously been given for that |
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| | expense (whether under this sub-paragraph or otherwise). |
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| | (3) | “The sales of lessors expense” means— |
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| | (a) | the expense which the company is treated as incurring under |
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| | section 383 or 417 of the Corporation Tax Act 2010 as a result |
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| | of section 394ZA of that Act, or |
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| | (b) | if section 386 or 419 of that Act applies or has applied, the |
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| | expense which derives from the expense within paragraph (a). |
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| | (4) | If the sales of lessors expense is incurred at a time when the company |
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| | is in tonnage tax, the “relevant part” of that expense is so much of it |
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| | as, on a just and reasonable basis, is attributable to the matters set out |
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| | in paragraph 56(1)(a) or (b). |
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| | (a) | the sales of lessors expense is not incurred at a time when the |
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| | company is in tonnage tax, |
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| | (b) | that expense is taken into account in calculating a loss made |
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| | by the company in a trade, and |
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| | (c) | the loss is one to which paragraph 56 applies, |
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| | | the “relevant part” of the sales of lessors expense is so much of the |
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| | apportioned loss as, on a just and reasonable basis, is derived from the |
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| | sales of lessors expense. |
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| | (6) | The reference here to the apportioned loss is to the loss that is |
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| | attributable to the matters set out in paragraph 56(1)(a) or (b).”’. |
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| Clause 24, page 16, line 30, leave out paragraphs (a) and (b) and insert— |
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| | ‘(a) | where the income arises as a result of a company becoming a member of |
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| | a tonnage tax group on or after 21 March 2012 and entering tonnage tax |
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| | (b) | where the income arises as a result of a company becoming a member of |
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| | a tonnage tax group on or after 23 April 2012 without entering tonnage |
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| | (c) | where the relevant day is on or after 21 March 2012 (in any case not |
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| | within paragraph (a) or (b)).’. |
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| Clause 24, page 16, line 33, leave out from ‘(5)’ to end of line 35 and insert ‘and |
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| | (a) | where a company becomes a member of a tonnage tax group on or after |
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| | 21 March 2012 and enters tonnage tax at the same time, or |
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| | (b) | where a company becomes a member of a tonnage tax group on or after |
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| | 23 April 2012 without entering tonnage tax at the same time.’. |
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| Clause 24, page 16, line 36, leave out from ‘effect’ to end of line 37 and insert ‘— |
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| | (a) | except in a case within paragraph (b), where the transfer day is on or after |
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| | (b) | in a case where the relevant change in the relationship occurs as a result |
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| | of a company becoming a member of a tonnage tax group without |
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| | entering tonnage tax at the same time, where the transfer day is on or after |
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| Clause 180, page 105, line 19, at end add— |
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| | ‘(2) | Notwithstanding the provisions of Part 4 of Schedule 20, the Schedule will not |
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| | come into force until a full impact assessment has been prepared in conjunction |
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| | with the Department for International Development reviewing the effect on |
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| | developing countries’ tax revenue, and details of aid and technical assistance |
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| | being provided to developing countries in order to increase the capability and |
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| | technical expertise in their tax regimes to collect the taxes that are due in their |
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| | countries, has been laid before and approved by the House of Commons.’. |
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| Page 105, line 13, leave out Clause 180. |
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| Schedule 20, page 520, line 31, at end insert— |
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| | ‘42A | Notwithstanding the provisions of this Part, this Schedule will not come into |
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| | force until a full impact assessment has been prepared in conjunction with the |
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| | Department for International Development reviewing the effect on developing |
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| | countries’ tax revenue, and details of aid and technical assistance being |
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| | provided to developing countries in order to increase the capability and |
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| | technical expertise in their tax regimes to collect the taxes that are due in their |
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| | countries, has been laid before and approved by the House of Commons.’. |
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| To move the following Clause:— |
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| | ‘(1) | BGDA 1981 is amended as follows. |
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| | (2) | In section 17(1)(b) of BGDA 1981 (bingo duty chargeable at 20 per cent of bingo |
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| | promotion profits), for “20” substitute “15”. |
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| | (3) | The amendment made by subsection (2) has effect in relation to accounting |
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| | periods beginning on or after 30 April 2012.’. |
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| | Levy on obligated energy suppliers |
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| To move the following Clause:— |
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| | ‘The Treasury shall prepare a report on the introduction of a levy on the profits of |
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| | obligated energy suppliers, with money raised to be put towards a country-wide |
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| | domestic energy efficiency programme prioritising those in fuel poverty, and |
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| | report to Parliament with proposals within three months of Royal Assent to this |
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| | Order of the House [16 April 2012] |
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| | That the following provisions shall apply to the Finance (No. 4) Bill: |
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| | 1. | The following shall be committed to a Committee of the whole House— |
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| | (a) | Clauses 1, 4, 8, 189 and 209; |
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| | (b) | Schedules 1, 23 and 33; |
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| | (c) | any new Clauses and any new Schedules, first appearing on the Order |
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| | Paper not later than Tuesday 17 April 2012 and relating to value |
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| | 2. | The remainder of the Bill shall be committed to a Public Bill Committee. |
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| | 3. (1) | Proceedings in Committee of the whole House shall be completed in |
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| | (2) | Those proceedings shall be taken on each of those days as shown in |
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| | the first column of the following table and in the order so shown. |
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| | (3) | Each part of the proceedings shall (so far as not previously |
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| | concluded) be brought to a conclusion at the time specified in |
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| | relation to it in the second column of the Table. |
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| | (4) | Standing Order No. 83B (Programming committees) shall not apply |
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