• Accessibility
• Email alerts
• RSS feeds
• Contact us

Session 2012 - 13
Internet Publications
Other Bills before Parliament

	Notices of Amendments: 7 June 2012                      90
	Finance Bill, continued
“associate (in Part 5A) section 257HJ(1)”
“bonus shares (in Part 5A) section 257HJ(1)”
“compliance certificate (in Part 5A) section 257EC(1)”
“compliance statement (in Part 5A) section 257ED(1)”
“director (in Part 5A) section 257HJ(1)”
“disposal of shares (in Part 5A) section 257HH”
“EIS relief (in Part 5A) section 257HJ(1)”
“group (in Part 5A) section 257HJ(1)”
“group company (in Part 5A) section 257HJ(1)”
“issue of shares (in Part 5A) section 257HI”
“market value (in Part 5A) section 257HJ(6)”
“new qualifying trade (in Part 5A) section 257HF”
“ordinary shares (in Part 5A) section 257HJ(1)”
“parent company (in Part 5A) section 257HJ(1)”
	Notices of Amendments: 7 June 2012                      91
	Finance Bill, continued
“period A, period B (in Part 5A) section 257AC”
“permanent establishment (in Part 5A) section 257HJ(1)”
“qualifying business activity (in Part 5A) section 257HG”
“qualifying subsidiary (in Part 5A) section 257HJ(1)”
“qualifying 90% subsidiary (in Part 5A) section 257HJ(1)”
“research and development (in Part 5A) section 257HJ(1)”
“SEIS (in Part 5A) section 257A(2)”
“single company (in Part 5A) section 257HJ(1)”
		(3)   In the entry for “control”, in the second column, after “257(3),” insert
		“257HJ(3),”.’
	David Gauke
		157
	Schedule  7,  page  261,  line  16,  leave out ‘in consequence’ and insert ‘, nor any
	money raised by the issue employed, in consequence or anticipation’.
	David Gauke
		158
	Schedule  7,  page  261,  leave out lines 19 to 29 and insert—
		‘(a)     the main purpose, or one of the main purposes, of the arrangements is to
		secure—
		(i)     that a qualifying business activity is or will be carried on by the
		issuing company or a qualifying 90% subsidiary of that
		company, and
		(ii)     that one or more persons (whether or not including any party to
		the arrangements) may obtain relevant tax relief in respect of
		shares issued by the issuing company which raise money for the
		purposes of that activity or that such shares may comprise part of
		the qualifying holdings of a VCT,
		(aa)     that activity is the relevant qualifying business activity,’.
	Notices of Amendments: 7 June 2012                      92
	Finance Bill, continued
	David Gauke
		159
	Schedule  7,  page  261,  line  35,  leave out from ‘is’ to end of line 36 and insert ‘, in
	the course of the arrangements, paid to or for the benefit of a relevant person or relevant
	persons.’.
	David Gauke
		160
	Schedule  7,  page  261,  line  38,  after ‘that’ insert ‘the whole or greater part of’.
	David Gauke
		161
	Schedule  7,  page  261,  line  40,  leave out from ‘by’ to end of line 41 and insert ‘a
	relevant person or relevant persons.’.
	David Gauke
		162
	Schedule  7,  page  262,  line  10,  at end insert—
		‘“relevant person” means a person who is a party to the arrangements or a
		person connected with such a party;’.
	David Gauke
		163
	Schedule  7,  page  266,  line  33,  leave out ‘in consequence’ and insert ‘, nor any
	money raised by the issue employed, in consequence or anticipation’.
	David Gauke
		164
	Schedule  7,  page  266,  line  36,  leave out from beginning to ‘and’ in line 8 on page
	267 and insert—
		‘(a)     the main purpose, or one of the main purposes, of the arrangements is to
		secure—
		(i)     that a qualifying business activity is or will be carried on by the
		company or a qualifying 90% subsidiary of the company, and
		(ii)     that one or more persons (whether or not including any party to
		the arrangements) may obtain relevant tax relief in respect of
		shares issued by the company which raise money for the
		purposes of that activity or that such shares may comprise part of
		the qualifying holdings of a venture capital trust,
		(aa)     that activity is the relevant qualifying business activity,’.
	David Gauke
		165
	Schedule  7,  page  267,  line  13,  leave out from ‘is’ to end of line 14 and insert ‘, in
	the course of the arrangements, paid to or for the benefit of a relevant person or relevant
	persons.’.
	David Gauke
		166
	Schedule  7,  page  267,  line  16,  after ‘that’ insert ‘the whole or greater part of’.
	Notices of Amendments: 7 June 2012                      93
	Finance Bill, continued
	David Gauke
		167
	Schedule  7,  page  267,  line  18,  leave out from ‘by’ to end of line 19 and insert ‘a
	relevant person or relevant persons.’.
	David Gauke
		168
	Schedule  7,  page  267,  line  36,  at end insert—
		‘“relevant person” means a person who is a party to the arrangements or a
		person connected with such a party;’.
	David Gauke
		169
	Schedule  8,  page  271,  line  30,  leave out ‘in consequence’ and insert ‘, nor any
	money raised by the issue employed, in consequence or anticipation’.
	David Gauke
		170
	Schedule  8,  page  271,  line  33,  leave out from beginning to end of line 1 on page
	272 and insert—
		‘(a)     the main purpose, or one of the main purposes, of the arrangements is to
		secure—
		(i)     that a qualifying activity is or will be carried on by the relevant
		company or a qualifying 90% subsidiary of that company, and
		(ii)     that shares or securities issued by the relevant company may be
		comprised in any company’s qualifying holdings or that one or
		more persons may obtain relevant tax relief in respect of such
		shares which raise money for the purposes of that qualifying
		activity,
		(aa)     that qualifying activity is the relevant qualifying activity by reference to
		which the requirement in section 293(1)(b) (money raised to be
		employed within two years for relevant qualifying activity) is met in
		relation to the relevant holding,’.
	David Gauke
		171
	Schedule  8,  page  272,  line  7,  leave out from ‘is’ to end of line 8 and insert ‘, in the
	course of the arrangements, paid to or for the benefit of a relevant person or relevant
	persons.’.
	David Gauke
		172
	Schedule  8,  page  272,  line  10,  after ‘that’ insert ‘the whole or greater part of’.
	David Gauke
		173
	Schedule  8,  page  272,  line  11,  leave out ‘business’.
	David Gauke
		174
	Schedule  8,  page  272,  line  12,  leave out from ‘by’ to end of line 13 and insert ‘a
	relevant person or relevant persons.’.
	Notices of Amendments: 7 June 2012                      94
	Finance Bill, continued
	David Gauke
		175
	Schedule  8,  page  272,  line  26,  at end insert—
		‘“relevant person” means a person who is a party to the arrangements or a
		person connected with such a party;’.
	David Gauke
		176
	Schedule  8,  page  272,  leave out lines 27 to 31 and insert—
		‘“qualifying activity” has the same meaning as in section 291;”.

• A-Z index
• Glossary
• Contact us
• Freedom of Information
• Jobs
• Using this website
• Copyright