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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, 5 to 7, 11, 72 to 74 and 112; Schedule 1; and certain new Clauses and new
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| | The Amendments have been arranged in accordance with the Order of the |
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| | Committee [29 April 2014]. |
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| Clause 35, page 36, line 18, at end insert— |
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| | ‘(16) | The Chancellor of the Exchequer shall, within three months of Royal Assent, |
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| | undertake a review into the impact of the changes made by this section to the |
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| | number of community amateur sports clubs in the UK. |
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| | (17) | The report referred to in subsection (1) above must in particular examine— |
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| | (a) | the value of company profit donations to community amateur sports |
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| | clubs over the last four years; |
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| | (b) | the amount of Class 1 national insurance contributions paid by |
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| | community amateur sports clubs, and |
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| | (c) | the average cost to community amateur sports clubs in order to retain |
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| | (18) | The Chancellor of the Exchequer must publish the report of the review and lay |
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| | the report before the House.’. |
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| Schedule 5, page 232, line 31, leave out ‘the relevant day’ and insert ‘— |
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| | (i) | the day on which the trustee’s appointment as |
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| | mentioned in paragraph (a) takes effect, or |
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| | (ii) | if the trustee is appointed as mentioned in paragraph |
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| | (a) on more than one occasion, the day on which the |
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| | first appointment takes effect’. |
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| Schedule 5, page 234, line 41, leave out ‘the liability of’ and insert ‘retained or |
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| Schedule 5, page 234, line 45, leave out from ‘be’ to end of line 46 and insert |
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| ‘retained or assumed by the person who was, or the persons who were, the scheme |
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| administrator when there last was a scheme administrator before the relevant day (unless |
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| dead or having ceased to exist).’. |
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| Schedule 5, page 235, line 17, leave out ‘section).”’ and insert ‘section), and in |
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| particular the liability continues to be a liability of the scheme administrator for the |
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| purposes of section 271(2). |
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| | (10) | If a person assumes the liability under section 271(2) at a time after P |
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| | or Q’s appointment as, or as one of the persons who are, the scheme |
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| | administrator has ceased, the person who has, or the persons who |
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| | have, the liability by reason of subsection (3) or (4) is, or are, released |
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| | (11) | A person who has, or persons who have, the liability by reason of |
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| | subsection (3) or (4) may apply to an officer of Revenue and Customs |
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| | to be released from the liability. |
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| | (12) | Section 271(6) to (13) applies in relation to an application under |
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| | subsection (11) as it applies in relation to an application under section |
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| Schedule 5, page 235, line 39, leave out sub-paragraph (3). |
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| Clause 45, page 43, line 6, at end insert— |
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| | ‘( ) | The Chancellor of the Exchequer shall carry out reviews of the effects of the |
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| | operation of the provision made by or under this Clause. |
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| | ( ) | The first review must be completed before the end of the period of five years |
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| | beginning with the date on which section 45 of this Act, so far as it inserts this |
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| | section, comes into force. |
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| | ( ) | Subsequent reviews must be completed before the end of the period of five years |
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| | beginning with the date on which the previous review was completed. |
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| | ( ) | A report of each review must be laid before both Houses of Parliament. |
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| | ( ) | A report of each review must be made available to the Treasury Select |
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| Clause 47, page 43, line 35, at end insert— |
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| | (a) | The Chancellor of the Exchequer shall, within six months of this Act |
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| | receiving Royal Assent, undertake a review of the impact of changes |
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| | made by this section to the Income Tax (Earning and Pensions) Act 2003 |
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| | (share incentive plans) on— |
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| | (i) | the uptake of Share Incentive Plans; |
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| | (ii) | changes made to the maximum value of Share Incentive Plans |
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| | that can be awarded to an employee; |
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| | (iii) | changes made to the maximum amount of an employee’s salary |
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| | that can be used to purchase Share Incentive Plans; |
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| | (iv) | the types of business using Share Incentive Plans.’. |
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| Schedule 8, page 325, line 47, leave out ‘distribution’ and insert ‘payment’. |
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| Schedule 8, page 326, line 4, leave out ‘distribution’ and insert ‘payment’. |
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| Schedule 8, page 326, line 27, at end insert— |
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| | ‘() | In section 281(1)(f)(i) or (iii) of ITA 2007 references to a company’s share |
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| | capital do not include so much (if any) of its share capital as consists of shares |
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| | issued before 6 April 2014.’. |
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| Schedule 8, page 326, line 27, at end insert— |
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| | ‘ | In section 322 of ITA 2007 (power to facilitate mergers of VCTs: provision |
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| | that may be made by regulations), after subsection (5) insert— |
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| | “(5A) | Provision for section 281(1)(f) (withdrawal of VCT approval where |
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| | company has made a repayment of share capital etc) not to apply, or |
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| | to apply subject to modifications, to the successor company or any of |
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| | the merging companies, in relation to payments made, or amounts |
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| | used to pay up new shares, in connection with or after the merger.”’. |
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| Clause 53, page 44, line 29, at end insert— |
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| | ‘(3) | The Chancellor of the Exchequer shall, within six months of the passing of this |
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| | Act, publish and lay before the House of Commons a report setting out the |
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| | predicted impact, over the next five years, of the changes introduced by Schedule |
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| | 9 to this Act to ITA 2007 on the overall level of investment in social enterprises. |
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| | (4) | This report must in particular set out the predicted impact of sections 257MQ and |
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| | 257MS of ITA 2007, as inserted by paragraph 1 of Schedule 9, on the overall |
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| | level of investment in renewable technologies over the next five years.’. |
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| Clause 61, page 52, line 41, at end insert— |
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| | (a) | the Chancellor of the Exchequer shall, within six months of this Act |
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| | receiving Royal Assent, undertake a review of the impact of changes |
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| | (i) | the uptake of the business premises renovation allowances |
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| | (ii) | the number of BPRA schemes disclosed through DOTAS being |
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| | investigated by HMRC; and |
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| | (iii) | the value of BPRA schemes disclosed through DOTAS being |
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| | (b) | the Chancellor of the Exchequer must publish the report of the review |
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| | and lay the report before the House.’. |
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| Clause 65, page 55, line 36, at end insert— |
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| | ‘(1) | The Chancellor of the Exchequer shall, within three months of Royal Assent, |
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| | undertake a review of the impact of the creation of the onshore allowance |
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| | introduced under this section. |
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| | (2) | The report referred to in subsection (1) above must in particular examine— |
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| | (a) | the estimated total loss of tax revenue to the Treasury in the next 10 |
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| | (b) | the impact on onshore oil and gas exploration and field development in |
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| | (c) | the differential impact on individual shale fields. |
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| | (3) | The Chancellor of the Exchequer must publish the report of the review and lay |
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| | the report before the House.’. |
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| Clause 68, page 61, line 39, at end insert— |
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| | ‘( ) | The Chancellor of the Exchequer shall, within six months of the passing of this |
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| | Act, publish and lay before the House of Commons a report setting out the |
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| | impact, over the next three years, of the changes made to the Corporation Tax Act |
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| | 2009 and the Income Tax (Trading and Other Income) Act 2005 by Schedule 13. |
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| | ( ) | The report must in particular set out— |
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| | (a) | how much additional tax revenue the measures introduced by this section |
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| | are expected to generate to the UK Exchequer, for each year in which |
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| | they are in operation; and |
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| | (b) | the impact of those measures on revenues lost to the Exchequer as a |
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| | consequence of tax avoidance schemes for each year in which they are in |
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| To move the following Clause:— |
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| | ‘(1) | The Chancellor of the Exchequer shall, within six months of Royal Assent, lay |
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| | before Parliament a report containing proposals for an income tax rate of 10 per |
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| | cent on a band of income above the personal allowance. |
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| | (2) | The report mentioned in subsection (1) above shall provide for the full benefit of |
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| | the 10 per cent. rate not being available to taxpayers paying the higher or |
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| | additional rates of tax.’. |
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| To move the following Clause:— |
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| | ‘(1) | The Chancellor of the Exchequer shall, within three months of the passing of this |
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| | Act, undertake a review of the number of people paying the 40 per cent rate of |
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| | (2) | The Chancellor of the Exchequer must publish the report of the review and lay |
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| | the report before the House.’. |
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| | Personal allowance for those born after 5 April 1948 |
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| To move the following Clause:— |
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| | ‘The Chancellor of the Exchequer shall, within three months of the passing of this |
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| | Act, undertake a review of the impact of the removal of the age-related personal |
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| | allowance on anyone who reached the age of 65 on or after April 2013 and place |
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| | Capital gains tax and employee shareholders |
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| To move the following Clause:— |
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| | ‘(1) | The Chancellor of the Exchequer shall, within three months of the passing of this |
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| | Act, undertake a review of the impact on tax revenues of employee shareholder |
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| | status as defined by section 205A of the Employment Rights Act 1996, and set |
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| | out the conclusion of the review in a report. |
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| | (2) | The report referred to in subsection (1) above must in particular set out— |
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| | (a) | the impact on total capital gains tax receipts paid to the Exchequer arising |
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| | from the capital gains exemptions under section 236B of the Taxation of |
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| | Chargeable Gains Act 1992; |
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| | (b) | the estimated value of shares owned by employees working in employee |
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| | shareholder jobs and the number of such employees. |
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| | (3) | The Chancellor of the Exchequer must publish the report of the review and lay |
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| | the report before the House. |
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| | (4) | Subsequent reviews must be completed before the end of each period of 12 |
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| | months beginning with the date on which the previous review was completed.’. |
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