|
|
| |
| |
|
| | |
| | the amount of the relevant excess of allowances is the difference between |
|
| | RTWDV and BSV (see sections 212K and 212L); |
|
| | “change arrangements” and “arrangements” have the same meaning as in |
|
| | |
| | 4 | In consequence of the amendments made by paragraphs 2 and 3, the heading |
|
| | to Chapter 16A becomes “Restrictions on allowance buying”. |
|
| | Extension of restrictions to other qualifying activities |
|
| | 5 (1) | Section 212B (circumstances where Chapter 16A applies) is amended as |
|
| | |
| | |
| | (a) | in paragraph (a), for “a trade (“the relevant trade”)” substitute “a |
|
| | qualifying activity (“the relevant activity”)”, and |
|
| | (b) | in paragraph (c), for “trade” (in both places) substitute “activity”. |
|
| | (3) | In subsection (3) for “trade” substitute “activity”. |
|
| | 6 (1) | Section 212C (when there is a a qualifying change in relation to C) is amended |
|
| | |
| | |
| | (a) | after “Condition C is that” insert “the relevant activity is a trade |
|
| | (within the meaning of this Part) and”, and |
|
| | (b) | for “trade”, where it appears after “the relevant” (in both places), |
|
| | |
| | (3) | In subsection (5) for “trade” (in both places) substitute “activity”. |
|
| | 7 (1) | Section 212I (relevant percentage share) is amended as follows. |
|
| | (2) | In subsections (1) and (3) for “trade” substitute “activity”. |
|
| | (3) | In subsection (2) for “a trade” substitute “an activity”. |
|
| | 8 | In section 212J(1) (relevant excess of allowances) for “trade” substitute |
|
| | |
| | 9 | In section 212K(2), (3), (4) and (5) (relevant tax written-down value) for |
|
| | “trade” substitute “activity”. |
|
| | 10 | In section 212N(2), (3) and (4) (old and new accounting periods) for “trade” |
|
| | |
| | 11 (1) | Section 212P (effect of excess on pools) is amended as follows. |
|
| | |
| | (a) | for “a trade (or part of a trade)” substitute “a qualifying activity (or |
|
| | part of a qualifying activity)”, |
|
| | (b) | for “the activities of that trade (or part of a trade)” substitute “that |
|
| | activity (or that part of an activity)”, |
|
| | (c) | after “its trade” insert “or business”, |
|
| | (d) | for “those activities” substitute “that activity (or that part)”, and |
|
| | (e) | after “separate trade” insert “or business”. |
|
| | |
| | (a) | after “section 37” insert “, 62 or 66”, |
|
| | |
| | (c) | for “earlier” substitute “other”, and |
|
| | (d) | after “period)” insert “or section 259 or 260(3) of this Act (special |
|
| | |
|
|
| |
| |
|
| | 12 (1) | Section 212Q (when there are postponed capital allowances) is amended as |
|
| | |
| | |
| | (a) | for “a trade (or part of a trade)” substitute “a qualifying activity (or |
|
| | part of a qualifying activity)”, |
|
| | (b) | for “the activities of that trade (or part of a trade)” substitute “that |
|
| | activity (or that part of an activity)”, |
|
| | (c) | after “its trade” insert “or business”, |
|
| | (d) | for “those activities” substitute “that activity (or that part)”, and |
|
| | (e) | after “separate trade” insert “or business”. |
|
| | |
| | (a) | after “section 37” insert “, 62 or 66”, and |
|
| | (b) | after “CTA 2010” insert “or section 259 or 260(3) of this Act”. |
|
| | |
| | 13 (1) | The amendments made by this Schedule have effect in relation to a qualifying |
|
| | change if the relevant day (within the meaning of Chapter 16A of Part 2 of |
|
| | CAA 2001) is on or after 20 March 2013. |
|
| | (2) | But those amendments do not have effect if before that date— |
|
| | (a) | the arrangements made to bring about the qualifying change were |
|
| | |
| | (b) | there was an agreement, or common understanding, between the |
|
| | parties to those arrangements as to the principal terms on which the |
|
| | qualifying change would be brought about.’. |
|
| |
| REMAINING NEW CLAUSES STANDING IN THE NAME OF A MINISTER OF THE CROWN; |
|
| AMENDMENTS STANDING IN THE NAME OF A MINISTER OF THE CROWN OTHER THAN |
|
| AMENDMENTS TO SCHEDULE 18; NEW CLAUSES AND NEW SCHEDULES RELATING TO |
|
| THE IMPACT, ON REVENUE FROM RATES AND MEASURES IN THE FINANCE BILL, |
|
| RESULTING FROM THE SPENDING REVIEW |
|
| | Restrictions on interim payments in proceedings relating to taxation matters |
|
| Mr Chancellor of the Exchequer |
|
| | |
| To move the following Clause:— |
|
| | ‘(1) | This section applies to an application for an interim remedy (however described), |
|
| | made in any court proceedings relating to a taxation matter, if the application is |
|
| | founded (wholly or in part) on a point of law which has yet to be finally |
|
| | determined in the proceedings. |
|
| | (2) | Any power of a court to grant an interim remedy (however described) requiring |
|
| | the Commissioners for Her Majesty’s Revenue and Customs, or an officer of |
|
| | Revenue and Customs, to pay any sum to any claimant (however described) in the |
|
| | proceedings is restricted as follows. |
|
| | (3) | The court may grant the interim remedy only if it is shown to the satisfaction of |
|
| | |
|
|
| |
| |
|
| | (a) | that, taking account of all sources of funding (including borrowing) |
|
| | reasonably likely to be available to fund the proceedings, the payment of |
|
| | the sum is necessary to enable the proceedings to continue, or |
|
| | (b) | that the circumstances of the claimant are exceptional and such that the |
|
| | granting of the remedy is necessary in the interests of justice. |
|
| | (4) | The powers restricted by this section include (for example)— |
|
| | (a) | powers under rule 25 of the Civil Procedure Rules 1998 (S.I. 1998/3132); |
|
| | (b) | powers under Part II of Rule 29 of the Rules of the Court of Judicature |
|
| | (Northern Ireland) (Revision) 1980 (S.R. 1980 No.346). |
|
| | (5) | This section applies in relation to proceedings whenever commenced, but only in |
|
| | relation to applications made in those proceedings on or after 26 June 2013. |
|
| | (6) | This section applies on and after 26 June 2013. |
|
| | (7) | Subsection (8) applies where, on or after 26 June 2013 but before the passing of |
|
| | this Act, an interim remedy was granted by a court using a power which, because |
|
| | of subsection (6), is to be taken to have been restricted by this section. |
|
| | (8) | Unless it is shown to the satisfaction of the court that paragraph (a) or (b) of |
|
| | subsection (3) applied at the time the interim remedy was granted, the court must, |
|
| | on an application made to it under this subsection— |
|
| | (a) | revoke or modify the interim remedy so as to secure compliance with this |
|
| | |
| | (b) | if the Commissioners have, or an officer of Revenue and Customs has, |
|
| | paid any sum as originally required by the interim remedy, order the |
|
| | repayment of the sum or any part of the sum as appropriate (with interest |
|
| | from the date of payment). |
|
| | (9) | For the purposes of this section, proceedings on appeal are to be treated as part of |
|
| | the original proceedings from which the appeal lies. |
|
| | (10) | In this section “taxation matter” means anything, other than national insurance |
|
| | contributions, the collection and management of which is the responsibility of the |
|
| | Commissioners for Her Majesty’s Revenue and Customs (or was the |
|
| | responsibility of the Commissioners of Inland Revenue or Commissioners of |
|
| | |
| |
| Mr Chancellor of the Exchequer |
|
| | |
| Clause 175, page 105, leave out lines 4 to 13 and insert— |
|
| | ‘(3) | Condition A is that, at any time on or after 6 April 2013 and during the period of |
|
| | 7 years ending with the date on which the election is made, the person had a |
|
| | spouse or civil partner who was domiciled in the United Kingdom. |
|
| | (4) | Condition B is that a person (“the deceased”) dies and, at any time on or after 6 |
|
| | April 2013 and within the period of 7 years ending with the date of death, the |
|
| | |
| | (a) | domiciled in the United Kingdom, and |
|
| | (b) | the spouse or civil partner of the person who would, by virtue of the |
|
| | election, be treated as domiciled in the United Kingdom.’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Clause 175, page 105, leave out lines 39 to 43. |
|
|
|
| |
| |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Clause 175, page 106, line 4, leave out ‘spouse or civil partner’s’ and insert |
|
| |
| Mr Chancellor of the Exchequer |
|
| | |
| Clause 175, page 106, line 7, leave out from first ‘date’ to end of line 19 and insert |
|
| |
| | (a) | in the case of a lifetime election— |
|
| | (i) | the person making the election was married to, or in a civil |
|
| | partnership with, the spouse or civil partner, and |
|
| | (ii) | the spouse or civil partner was domiciled in the United Kingdom, |
|
| | |
| | (b) | in the case of a death election— |
|
| | (i) | the person who is, by virtue of the election, to be treated as |
|
| | domiciled in the United Kingdom was married to, or in a civil |
|
| | partnership with, the deceased, and |
|
| | (ii) | the deceased was domiciled in the United Kingdom.’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Clause 175, page 106, line 21, leave out ‘spouse or civil partner’ and insert |
|
| |
| Mr Chancellor of the Exchequer |
|
| | |
| Clause 175, page 106, line 27, leave out ‘or (4)(b)’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Clause 175, page 106, line 41, leave out ‘a lifetime or death election’ and insert ‘an |
|
| election under section 267ZA(1)’. |
|
| |
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 144, line 34, at end insert— |
|
| | ‘(10A) | For the purposes of subsection (10) it does not matter if the general |
|
| | offer is made to different shareholders by different means.’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 144, line 45, after ‘“(7)’, insert— |
|
| | | ‘For the purposes of sub-paragraph (5) it does not matter if the |
|
| | general offer is made to different shareholders by different means. |
|
| | |
|
|
| |
| |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 146, line 20, at end insert— |
|
| | ‘(3DA) | In subsection (3D)(a) the reference to the issued ordinary share capital |
|
| | of the relevant company does not include any capital already held by |
|
| | the person making the offer or a person connected with that person and |
|
| | in subsection (3D)(b) the reference to the shares in the relevant |
|
| | company does not include any shares already held by the person |
|
| | making the offer or a person connected with that person. |
|
| | (3DB) | For the purposes of subsection (3D)(a) and (b) it does not matter if the |
|
| | general offer is made to different shareholders by different means.’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 147, line 16, at end insert— |
|
| | ‘(1A) | After sub-paragraph (3) insert— |
|
| | “(3A) | In sub-paragraph (3)(a) the reference to the issued ordinary share |
|
| | capital of the company does not include any capital already held by |
|
| | the person making the offer or a person connected with that person |
|
| | and in sub-paragraph (3)(b) the reference to the shares in the |
|
| | company does not include any shares already held by the person |
|
| | making the offer or a person connected with that person. |
|
| | (3B) | For the purposes of sub-paragraph (3)(a) and (b) it does not matter |
|
| | if the general offer is made to different shareholders by different |
|
| | |
| | (1B) | A SAYE option scheme approved before the day on which this Act is passed |
|
| | which contains provision under paragraph 37(1) of Schedule 3 to ITEPA 2003 |
|
| | by reference to paragraph 37(2) has effect with any modifications needed to |
|
| | reflect the amendment made by sub-paragraph (1A).’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 147, line 37, leave out sub-paragraph (1) and insert— |
|
| | ‘(1) | In Part 7 of Schedule 3 (exercise of share options) paragraph 38 (exchange of |
|
| | options on company reorganisation) is amended as follows. |
|
| | (1A) | In sub-paragraph (2)(c)— |
|
| | (a) | after “982” insert “or 983 to 985”, and |
|
| | (b) | after “shareholder” insert “etc”. |
|
| | (1B) | After sub-paragraph (2) insert— |
|
| | “(2A) | In sub-paragraph (2)(a)(i) the reference to the issued ordinary share |
|
| | capital of the scheme company does not include any capital already |
|
| | held by the person making the offer or a person connected with that |
|
| | person and in sub-paragraph (2)(a)(ii) the reference to the shares in |
|
| | the scheme company does not include any shares already held by |
|
| | the person making the offer or a person connected with that person. |
|
| | (2B) | For the purposes of sub-paragraph (2)(a)(i) and (ii) it does not |
|
| | matter if the general offer is made to different shareholders by |
|
| | |
|
|
| |
| |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 149, line 34, at end insert— |
|
| | ‘(2HA) | In subsection (2H)(a) the reference to the issued ordinary share capital |
|
| | of the relevant company does not include any capital already held by |
|
| | the person making the offer or a person connected with that person and |
|
| | in subsection (2H)(b) the reference to the shares in the relevant |
|
| | company does not include any shares already held by the person |
|
| | making the offer or a person connected with that person. |
|
| | (2HB) | For the purposes of subsection (2H)(a) and (b) it does not matter if the |
|
| | general offer is made to different shareholders by different means.’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 150, line 31, at end insert— |
|
| | ‘(3A) | In sub-paragraph (3)(a) the reference to the issued ordinary share |
|
| | capital of the company does not include any capital already held by |
|
| | the person making the offer or a person connected with that person |
|
| | and in sub-paragraph (3)(b) the reference to the shares in the |
|
| | company does not include any shares already held by the person |
|
| | making the offer or a person connected with that person. |
|
| | (3B) | For the purposes of sub-paragraph (3)(a) and (b) it does not matter |
|
| | if the general offer is made to different shareholders by different |
|
| | |
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 151, line 6, leave out sub-paragraph (1) and insert— |
|
| | ‘(1) | In Part 6 of Schedule 4 (exercise of share options) paragraph 26 (exchange of |
|
| | options on company reorganisation) is amended as follows. |
|
| | (1A) | In sub-paragraph (2)(c)— |
|
| | (a) | after “982” insert “or 983 to 985”, and |
|
| | (b) | after “shareholder” insert “etc”. |
|
| | (1B) | After sub-paragraph (2) insert— |
|
| | “(2A) | In sub-paragraph (2)(a)(i) the reference to the issued ordinary share |
|
| | capital of the scheme company does not include any capital already |
|
| | held by the person making the offer or a person connected with that |
|
| | person and in sub-paragraph (2)(a)(ii) the reference to the shares in |
|
| | the scheme company does not include any shares already held by |
|
| | the person making the offer or a person connected with that person. |
|
| | (2B) | For the purposes of sub-paragraph (2)(a)(i) and (ii) it does not |
|
| | matter if the general offer is made to different shareholders by |
|
| | |
|
|
| |
| |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 2, page 151, line 13, at end insert— |
|
| | ‘Enterprise management incentives |
|
| | 30A(1) | In Part 6 of Schedule 5 (company reorganisations) in paragraph 39 |
|
| | (introduction) after sub-paragraph (3) insert— |
|
| | “(4) | In sub-paragraph (2)(a)(i) the reference to the issued share capital |
|
| | of the company does not include any capital already held by the |
|
| | person making the offer or a person connected with that person and |
|
| | in sub-paragraph (2)(a)(ii) the reference to the shares in the |
|
| | company does not include any shares already held by the person |
|
| | making the offer or a person connected with that person. |
|
| | (5) | For the purposes of sub-paragraph (2)(a)(i) and (ii) it does not |
|
| | matter if the general offer is made to different shareholders by |
|
| | |
| | (2) | The amendment made by this paragraph comes into force on such day as the |
|
| | Treasury may by order appoint.’. |
|
| |
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 9, page 205, line 7, after ‘(g)’, insert ‘or (4A)’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 9, page 206, line 32, after ‘(g)’, insert ‘or (4A)’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 9, page 213, line 25, at end insert— |
|
| | ‘(4A) | The Commissioners for Her Majesty’s Revenue and Customs may |
|
| | by regulations provide that sub-paragraph (2) does not apply if |
|
| | prescribed conditions are met in relation to the assignment. |
|
| | | “Prescribed” means prescribed by the regulations. |
|
| | (4B) | Regulations under sub-paragraph (4A) may— |
|
| | (a) | make different provision for different cases or |
|
| | |
| | (b) | contain incidental, supplementary, consequential, |
|
| | transitional, transitory or saving provision.’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 9, page 213, line 27, after ‘(3)’, insert ‘or (4A)’. |
|
| Mr Chancellor of the Exchequer |
|
| | |
| Schedule 9, page 213, line 48, after ‘(g)’, insert ‘or (4A)’. |
|
|