Session 2014 - 15
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Other Bills before Parliament


 
 

121

 

House of Commons

 
 

Notices of Amendments

 

given on

 

Thursday 12 June 2014

 

For other Amendment(s) see the following page(s):

 

Finance Bill Committee 112-120

 

Public Bill Committee


 

Finance Bill


 

(Except Clauses 1, 5 to 7, 11, 72 to 74 and 112; Schedule 1; and certain new Clauses and new


 

Schedules.)


 

Charlie Elphicke

 

53

 

Clause  227,  page  154,  line  34,  at end insert—

 

“(5)    

“Tax abuse” means any arrangement that, having regard to all the circumstances,

 

it would be reasonable to conclude is an arrangement that has no business, social

 

or other purpose other than the obtaining of a tax advantage.”

 

Charlie Elphicke

 

54

 

Clause  228,  page  155,  line  35,  at end insert—

 

“(8)    

It shall be a summary offence to promote a relevant proposal or relevant

 

arrangement which meets the definition of “tax abuse”.

 

(9)    

A promoter found guilty of an offence under subsection (8) shall be liable to a fine

 

not exceeding level 1 on the standard scale.”

 

Charlie Elphicke

 

55

 

Clause  264,  page  178,  line  9,  leave out subsection (1) and insert—

 

“(1)    

In carrying out its functions under this Part, HMRC may require any person to

 

disclose any privileged information.”

 

Teresa Pearce

 

56

 

Clause  212,  page  141,  line  35,  at end insert—

 

“(8)    

The Chancellor of the Exchequer shall, within six months of this Act receiving

 

Royal Assent, publish a post implementation review.

 

(9)    

The Review referred to in subsection (8) above must in particular examine—


 
 

Notices of Amendments: 12 June 2014                     

122

 

Finance Bill, continued

 
 

(a)    

the total number of accelerated payment notices issued;

 

(b)    

the number of accelerated payment notices issued to cases involving a

 

disclosure made under DOTAS prior to the Act receiving Royal Assent,

 

(c)    

the total revenue collected through accelerated payment notices;

 

(d)    

the total revenue collected through penalties arising as a result of

 

accelerated payment notices;

 

(e)    

the number of representations made to Her Majesty’s Revenue and

 

Customs following the issuing of an accelerated payment notice;

 

(f)    

the number of accelerated payment notices that have been subsequently

 

withdrawn;

 

(g)    

the financial consequences resulting from the issuance of accelerated

 

payment notices for the businesses and taxpayers involved.

 

(10)    

The Chancellor of the Exchequer must publish the report of the review and lay

 

the report before the House.”

 

Ed Balls

 

Chris Leslie

 

Cathy Jamieson

 

Catherine McKinnell

 

Shabana Mahmood

 

57

 

Clause  278,  page  187,  line  28,  at end insert—

 

“(1)    

Before bringing foward any further reform of The Code of Practice on Taxation

 

of Banks, the Chancellor shall lay before Parliament a report considering the

 

impact on the total receipts paid to the Exchequer since 2010 by—

 

(a)    

Uk banking groups;

 

(b)    

building society groups;

 

(c)    

foreign banking groups; and

 

(d)    

relevant non-banking groups.

 

(2)    

The report will pay particular attention to receipts from—

 

(a)    

corporation tax;

 

(b)    

the bank levy; and

 

(c)    

bank payroll tax.”

 


 
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Revised 13 June 2014