Session 2013 - 14
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Notices of Amendments: 27 June 2013                     

416

 

Finance Bill, continued

 
 

(7)    

In this section—

 

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

 

section 212M.”

 

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

 

follows.

 

      (2)  

In subsection (1)—

 

(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

 

as follows.

 

      (2)  

In subsection (4)—

 

(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),

 

substitute “activity”.

 

      (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

 

“activity”.

 

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”

 

substitute “activity”.

 

11  (1)  

Section 212P (effect of excess on pools) is amended as follows.

 

      (2)  

In subsection (3)—

 

(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”.

 

      (3)  

In subsection (4)—

 

(a)    

after “section 37” insert “, 62 or 66”,

 

(b)    

omit “trade”,

 

(c)    

for “earlier” substitute “other”, and

 

(d)    

after “period)” insert “or section 259 or 260(3) of this Act (special

 

leasing)”.


 
 

Notices of Amendments: 27 June 2013                     

417

 

Finance Bill, continued

 
 

12  (1)  

Section 212Q (when there are postponed capital allowances) is amended as

 

follows.

 

      (2)  

In subsection (3)—

 

(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”.

 

      (3)  

In subsection (4)—

 

(a)    

after “section 37” insert “, 62 or 66”, and

 

(b)    

after “CTA 2010” insert “or section 259 or 260(3) of this Act”.

 

Commencement

 

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

 

entered into, or

 

(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

 

NC7

 

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

 

the court—


 
 

Notices of Amendments: 27 June 2013                     

418

 

Finance Bill, continued

 
 

(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

 

section, and

 

(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

 

Customs and Excise).’.

 


 

Mr Chancellor of the Exchequer

 

1

 

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

 

deceased was—

 

(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

 

2

 

Clause  175,  page  105,  leave out lines 39 to 43.


 
 

Notices of Amendments: 27 June 2013                     

419

 

Finance Bill, continued

 
 

Mr Chancellor of the Exchequer

 

3

 

Clause  175,  page  106,  line  4,  leave out ‘spouse or civil partner’s’ and insert

 

‘deceased’s’.

 

Mr Chancellor of the Exchequer

 

4

 

Clause  175,  page  106,  line  7,  leave out from first ‘date’ to end of line 19 and insert

 

‘if, on the date—

 

(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,

 

or

 

(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

 

5

 

Clause  175,  page  106,  line  21,  leave out ‘spouse or civil partner’ and insert

 

‘deceased’.

 

Mr Chancellor of the Exchequer

 

6

 

Clause  175,  page  106,  line  27,  leave out ‘or (4)(b)’.

 

Mr Chancellor of the Exchequer

 

7

 

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

 

8

 

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

 

9

 

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.

 

      (8)  

’.


 
 

Notices of Amendments: 27 June 2013                     

420

 

Finance Bill, continued

 
 

Mr Chancellor of the Exchequer

 

10

 

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

 

11

 

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

 

means.”

 

    (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

 

12

 

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

 

different means.”’


 
 

Notices of Amendments: 27 June 2013                     

421

 

Finance Bill, continued

 
 

Mr Chancellor of the Exchequer

 

13

 

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

 

14

 

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

 

means.’.

 

Mr Chancellor of the Exchequer

 

15

 

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

 

different means.”’.


 
 

Notices of Amendments: 27 June 2013                     

422

 

Finance Bill, continued

 
 

Mr Chancellor of the Exchequer

 

16

 

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

 

different means.”

 

      (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

 

17

 

Schedule  9,  page  205,  line  7,  after ‘(g)’, insert ‘or (4A)’.

 

Mr Chancellor of the Exchequer

 

18

 

Schedule  9,  page  206,  line  32,  after ‘(g)’, insert ‘or (4A)’.

 

Mr Chancellor of the Exchequer

 

19

 

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

 

circumstances, and

 

(b)    

contain incidental, supplementary, consequential,

 

transitional, transitory or saving provision.’.

 

Mr Chancellor of the Exchequer

 

20

 

Schedule  9,  page  213,  line  27,  after ‘(3)’, insert ‘or (4A)’.

 

Mr Chancellor of the Exchequer

 

21

 

Schedule  9,  page  213,  line  48,  after ‘(g)’, insert ‘or (4A)’.


 
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