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| Mr Chancellor of the Exchequer |
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| Schedule 10, page 458, line 8, at end insert— |
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| Mr Chancellor of the Exchequer |
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| Schedule 10, page 458, line 13, at end insert— |
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| Mr Chancellor of the Exchequer |
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| Schedule 10, page 459, leave out lines 31 to 42 |
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| Mr Chancellor of the Exchequer |
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| Schedule 10, page 459, line 43, after “paragraphs” insert “19,” |
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| NEW CLAUSES, NEW SCHEDULES AND AMENDMENTS TO CLAUSES AND SCHEDULES |
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| RELATING TO TAX AVOIDANCE AND EVASION |
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| To move the following Clause— |
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| | | “Report on the impact of the criminal offences relating to offshore income, |
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| | (1) | The Chancellor of the Exchequer shall, within one year of the coming into force |
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| | of the provisions in TMA 1970 relating to criminal offences relating to offshore |
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| | income, assets and activities introduced by section 165 of this Act publish a report |
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| | on the impact of the introduction of these offences. |
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| | (2) | The report must include, but need not be limited to, information about— |
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| | (a) | the number of persons who have been charged with offences under each |
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| | of sections 106B, 106C and 106D of TMA 1970; |
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| | (b) | the number of persons who have been convicted of any such offence; |
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| | (c) | the average fine imposed; and |
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| | (d) | the number of people upon whom a custodial sentence has been imposed |
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| Mr Chancellor of the Exchequer |
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| Clause 155, page 241, leave out lines 10 to 18 and insert— |
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| | “(d) | a designated HMRC officer giving the taxpayer a pooling notice or a |
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| | notice of binding under Schedule 43A which— |
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| | (i) | specifies the arrangements and the tax advantage which are |
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| | specified in the provisional counteraction notice, and |
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| | (ii) | specifies the notified adjustments (or lesser adjustments) as the |
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| | counteraction that the officer considers ought to be taken;” |
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| Mr Chancellor of the Exchequer |
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| Clause 155, page 241, line 29, after “the” insert “pooling notice or” |
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| Clause 163, page 293, line 25, leave out “may” and insert ”must” |
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| Clause 163, page 293, line 41, leave out “may” and insert ”must” |
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| Clause 163, page 293, line 43, at end insert— |
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| | “(4E) | The Commissioners must publish the information mentioned in subsection 4 in |
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| | the event of any conviction for money laundering or related offences relating to a |
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| Clause 165, page 295, line 9, at end insert “and that the person had an honest belief |
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| that all of the information included was true and accurate” |
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| Clause 165, page 295, line 26, at end insert “and that the person had an honest |
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| belief that all of the information included was true and accurate” |
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| Clause 165, page 295, line 40, at end insert “and that the person had an honest |
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| belief that all of the information included was true and accurate” |
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| Schedule 19, page 589, line 29, at end insert— |
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| | “(6) | The Treasury may by regulations require the group tax strategy to include a |
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| | country-by-country report. |
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| | (7) | In this paragraph “country-by-country report” has the meaning given by the |
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| | Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) |
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| Schedule 20, page 609, line 34, at end insert “or 100% of any fee paid by Q to P in |
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| respect of enabling Q to carry out offshore tax evasion or non-compliance” |
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| Schedule 20, page 609, line 40, at end insert “or 100% of any fee paid by Q to P in |
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| respect of enabling Q to carry out offshore tax evasion or non-compliance”. |
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| Schedule 21, page 618, leave out lines 27 to 34 and insert— |
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| Schedule 21, page 621, leave out lines 8 to 15 and insert— |
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| Schedule 22, page 627, line 5, leave out “100%” and insert “15%” |
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| NEW CLAUSES, NEW SCHEDULES AND AMENDMENTS TO CLAUSES RELATING TO VAT |
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| on women’s sanitary products |
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| To move the following Clause— |
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| | | “Assessment of revenue from VAT on women’s sanitary products |
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| | (1) | The Chancellor of the Exchequer must carry out an assessment of the revenue |
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| | raised from VAT on women’s sanitary products since 1 January 2001, and lay |
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| | before Parliament a report of that assessment within 12 months of this Act coming |
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| | (2) | The report must include an estimate of the total revenue raised since January 2001 |
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| | and provide information about government policy relating to this revenue.” |
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| Clause 125, page 205, line 32, leave out from “after” to end of subsection and |
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| Clause 125, page 205, line 32, leave out “such” and insert “1 April 2017, or on any |
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| Clause 125, page 205, line 32, leave out “such” and insert “1 April 2018, or on any |
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| Mr Chancellor of the Exchequer |
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| Clause 125, page 205, line 33, at end insert— |
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| | “( ) | The date appointed under subsection (5) must not be after the later of— |
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| | (b) | the earliest date that may be appointed consistently with the United |
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| | Kingdom’s EU obligations.” |
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| NEW CLAUSES, NEW SCHEDULES AND AMENDMENTS TO CLAUSES and schedules |
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| relating to capital gains tax |
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| To move the following Clause— |
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| | | “Entrepreneur’s Relief: value for money |
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| | (1) | The Chancellor of the Exchequer shall, within six months of the passing of this |
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| | Act, publish a report giving HM Treasury’s assessment of the value for money |
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| | provided by Entrepreneur’s Relief. |
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| | (2) | The report shall have particular reference to— |
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| | (a) | the cost to the Exchequer of the Relief; |
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| | (b) | the number of individuals who have benefited from the Relief; |
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| | (c) | the average tax deduction received by an individual as a result of the |
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| | (d) | the number of new business start-ups since introduction of the Relief.” |
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| Page 167, line 40, leave out Clause 82 |
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| Mr Chancellor of the Exchequer |
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| Clause 82, page 167, line 42, leave out “(11)” and insert “(11A)” |
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| Mr Chancellor of the Exchequer |
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| Clause 82, page 168, leave out line 14 and insert— |
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| | “(c) | carried interest gains (see subsections (12) and (13)).” |
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| Clause 82, page 168, line 14, at end insert— |
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| | “, but a gain shall not be an upper rate gain if it accrues as a result of a |
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| | disposal of a UK residential property interest to an occupying tenant as |
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| | described in subsections (2B) to (2E). |
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| | (2B) | A disposal of a UK residential property shall be treated as a disposal to an |
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| | occupying tenant if conditions A to C are met. |
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| | (2C) | Condition A is that the person purchasing the UK residential property interest is |
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| | a tenant of the property with a tenancy held under one of the following— |
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| | (c) | Housing (Scotland) Act 1988. |
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| | (2D) | Condition B is that the tenant has been in occupation of the subject property for |
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| | a period of not less than one calendar year. |
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| | (2E) | Condition C is that the disposal to the tenant has been for a monetary |
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| | consideration at a fair market rate. |
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| | (2F) | The Secretary of State may, by order, add or remove tenancy types from the list |
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| | Member’s explanatory statement
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| | This amendment would move certain types of residential property disposals from the category of |
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| | higher rate chargeable gains, charged at 28%, to the lower rate, charged at 20%. A relevant UK |
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| | property disposal would not be a higher rate gain if all conditions outlined in subsections (2C) to |
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| Mr Chancellor of the Exchequer |
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| Clause 82, page 169, line 4, at end insert— |
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| | “(11A) | After subsection (11) insert— |
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| | “(12) | In subsection (2A)(c) “carried interest gains” means— |
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| | (a) | gains treated as accruing under section 103KA(2) or (3), and |
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| | (b) | gains accruing to an individual as a result of carried interest |
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| | arising to the individual where— |
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| | (i) | the individual performs investment management |
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| | services directly or indirectly in respect of an investment |
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| | scheme under arrangements not involving a partnership, |
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| | (ii) | the carried interest arises to the individual under the |
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| | (iii) | the carried interest does not constitute a co-investment |
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| | (13) | For the purposes of subsection (12)(b)— |
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| | (a) | “carried interest”, in relation to any arrangements, has the same |
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| | meaning as in section 809EZB of ITA 2007 (see sections |
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| | 809EZC and 809EZD of that Act); |
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| | (b) | carried interest “arises” to an individual if it arises to him or her |
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| | for the purposes of Chapter 5E of Part 13 of ITA 2007; |
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| | (c) | “arrangements”, “investment management services” and |
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| | “investment scheme” have the same meanings as in that Chapter |
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| | (see sections 809EZA(6) and 809EZE of that Act); |
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| | (d) | “co-investment repayment or return” has the same meaning as in |
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| Schedule 14, page 481, line 36, at end insert— |
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| | “(12) | Section 169Z makes provision about the expiration of this Chapter.” |
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