Notices of Amendments: 31 August 2016                  

29

Finance Bill, continued

John McDonnell

Rebecca Long Bailey

176

Schedule  14,  page  499,  line  15,  at end insert—

“169VZ 

  Expiration of Chapter 5 provisions

(1)    

The provisions of this Chapter shall remain in force until five years after their

commencement and shall then expire, unless continued in force by an order under

subsection (2).

(2)    

The Secretary of State may by order made by statutory instrument provide—

(a)    

that all or any of those provisions which are in force shall continue in

force for a period not exceeding 12 months from the coming into

operation of the order; or

(b)    

that all or any of those provisions which are for the time being in force

shall cease to be in force.

(3)    

No order shall be made under subsection (2) unless—

(a)    

a draft of the order has been laid before and approved by a resolution of

both Houses of Parliament,

(b)    

the Secretary of State has commissioned a review of the operation of

Investor’s Relief and laid the report of the review before both Houses of

Parliament.”

NEW CLAUSES, NEW SCHEDULES AND AMENDMENTS TO CLAUSES RELATING TO

insurance premium tax; remaining new clauses, new schedules and

amendments to clauses and schedules; remaining proceedings on

consideration

Mr Chancellor of the Exchequer

NC9

To move the following Clause—

“Tax treatment of supplementary welfare payments: Northern Ireland

(1)    

In this section “supplementary welfare payment” means a payment made under

regulations under—

(a)    

Article 135(1)(a) of the Welfare Reform (Northern Ireland) Order 2015

(S.I. 2015/2006 (N.I. 1)) (“the Order”) (discretionary support),

(b)    

Article 137 of the Order (payments to persons suffering financial

disadvantage), or

(c)    

any provision (including future provision) of the Order which enables

provision to be made for payments to persons who suffer financial

disadvantage as a result of relevant housing benefit changes.

(2)    

In subsection (1)(c) “relevant housing benefit changes” means changes to social

security benefits consisting of or including changes contained in the Housing

Benefit (Amendment) Regulations (Northern Ireland) 2016 (S.R. (N.I.) 2016 No.

258).

(3)    

The Treasury may by regulations amend any provision of Chapters 1 to 5 of Part

10 of ITEPA 2003 so as to—

(a)    

provide that no liability to income tax arises on supplementary welfare

payments of a specified description;

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30

Finance Bill, continued

(b)    

impose a charge to income tax under Part 10 of ITEPA 2003 on payments

of a specified description made under regulations under Article 137 of the

Order (payments to persons suffering financial disadvantage).

(4)    

The regulations may make—

(a)    

different provision for different cases;

(b)    

incidental or supplementary provision;

(c)    

consequential provision (which may include provision amending any

provision made by or under the Income Tax Acts).

(5)    

Regulations made before 6 April 2017 may, so far as relating to the tax year 2016-

17, have effect in relation to times before they are made.

(6)    

Regulations under this section are to be made by statutory instrument.

(7)    

A statutory instrument containing regulations under this section is subject to

annulment in pursuance of a resolution of the House of Commons.

(8)    

In section 655(2) of ITEPA 2003 (other provisions about the taxation of social

security payments) after the entry relating to section 782 of ITTOIA 2005 insert “;

section (Tax treatment of supplementary welfare payments: Northern

Ireland) of FA 2016 (tax treatment of supplementary welfare payments:

Northern Ireland).””

Mr David Burrowes

Dr Sarah Wollaston

NC2

To move the following Clause—

“Review of the impact of the duty regime for high-strength cider

(1)    

The Chancellor of the Exchequer must carry out a review of the impact of the rate

of duty charged on sparkling cider of a strength exceeding 5.5%, and lay the

report of the review before both Houses of Parliament within 12 months of this

Act receiving Royal Assent.

(2)    

The review must address (though need not be limited to) the impact of the duty

regime on tax revenues and on the consumption of alcohol.”

Notices of Amendments: 31 August 2016                  

31

Finance Bill, continued

Mr David Burrowes

Derek Thomas

Fiona Bruce

Steve Double

Michael Tomlinson

Jeremy Lefroy

Mr David Nuttall

Tim Loughton

Martin Vickers

Mr Philip Hollobone

Mr Peter Bone

Caroline Ansell

Mr Gary Streeter

Maria Caulfield

NC3

To move the following Clause—

“Review of the operation of the transferable tax allowance for married

couples and civil partners

(1)    

The Chancellor of the Exchequer must carry out a review of the operation of the

transferable tax allowance for married couples and civil partners under Chapter

3A of Part 3 of the Income Tax Act 2007 and lay the report of the review before

both Houses of Parliament within 12 months of this Act receiving Royal Assent.

(2)    

The review must address (though need not be limited to)—

(a)    

levels of take-up of the allowance;

(b)    

the impact of the allowance on individuals with children aged five years

or under;

(c)    

the impact of the allowance on low-income households; and

(d)    

ways in which the allowance could be changed to target low-income

families with young children.”

Roger Mullin

NC6

To move the following Clause—

“VAT treatment of the Scottish Police Authority and the Scottish Fire and

Rescue Service

The Chancellor of the Exchequer must commission a review of the VAT

treatment of the Scottish Police Authority and the Scottish Fire and Rescue

Service, including but not limited to an analysis of the impact on the financial

position of Police Scotland and the Scottish Fire and Rescue Service arising from

their VAT treatment and an estimate of the change to their financial position were

they eligible for a refund of VAT under section 33 of the VAT Act 1994, and must

publish the report of the review within six months of the passing of this Act.”

Notices of Amendments: 31 August 2016                  

32

Finance Bill, continued

Roger Mullin

NC7

To move the following Clause—

“Review of tax treatment of Scottish Limited Partnerships

(1)    

The Chancellor of the Exchequer must undertake a review of the impact of the tax

regime which applies to Scottish Limited Partnerships on levels of tax avoidance

and evasion by such partnerships, and lay the report of the review before both

Houses of Parliament within six months of the passing of this Act.

(2)    

The review must take into account the views of the Scottish Government, HMRC

and interested charities.”

Roger Mullin

NC8

To move the following Clause—

“Review of changes to tax on dividend income

(1)    

The Chancellor of the Exchequer must commission a review of how the changes

to the tax on dividend income implemented by this Act affect directors of micro-

business companies, to include—

(a)    

the impacts across the distribution of such directors’ net income;

(b)    

the impact on company failure rates; and

(c)    

options for amending the law to minimise the impact on such directors

who are on low incomes.

(2)    

The Chancellor must lay a report of the review before both Houses of Parliament

within six months of the passing of this Act.”

John McDonnell

Rebecca Long Bailey

NC13

To move the following Clause—

“Report into the UK Tax Gap

(1)    

The Chancellor of the Exchequer shall, within one year of the passing of this Act,

prepare and publish a report, in consultation with stakeholders, on the UK Tax

Gap.

(2)    

The report must include the following—

(a)    

details of the UK Tax Gap (including individual breakdowns for figures

relating to tax avoidance, tax evasion and tax arrears) for the financial

years—

(i)    

2015-16;

(ii)    

2014-15;

(iii)    

2013-14;

(iv)    

2012-13; and

(v)    

2011-12;

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33

Finance Bill, continued

(b)    

a detailed summary of the model used by HMRC for estimating the UK

Tax Gap;

(c)    

an assessment of the efficacy of HMRC’s performance in relation dealing

with the UK Tax Gap, including—

(i)    

a breakdown of specific HMRC departments or units dealing

with investigation and enforcement matters in relation to the UK

Tax Gap;

(ii)    

details of the numbers of staff in each of the years listed in

paragraph (a) who are located within departments or units

dealing with investigation and enforcement matters in relation to

the UK Tax Gap;

(iii)    

details of the budgets allocated to departments or units dealing

with investigation above; and

(iv)    

details of the numbers of prosecutions or the amount of tax

recovered in each financial year listed in paragraph (a) as a result

of the work of HMRC departments or units dealing with

investigation and enforcement matters in relation to the UK Tax

Gap in those financial years.

(d)    

a review of the impact on tax revenues of requiring non-public

organisations involved in public procurement processes to—

(i)    

be registered in the UK for tax purposes;

(ii)    

have paid UK tax for a period of at least five years prior to the

date the relevant contract is awarded;

(iii)    

publish full details of beneficial ownership for the period of five

years prior to the date the relevant contract is awarded; and

(iv)    

provide company accounts (including those of any beneficial

owners) for the period of five years prior to the date the relevant

contract is awarded.

(e)    

a comprehensive assessment of the efficacy of the General Anti Abuse

Rule in discouraging tax avoidance;

(f)    

an assessment of the impact on tax revenues of introducing a set of

minimum standards in relation to tax transparency for all British crown

dependencies and overseas territories including (but not limited to)—

(i)    

placing a statutory duty on British crown dependencies and

overseas territories to observe a system of good governance and

practice in relation to tax enforcement; and

(ii)    

requiring British crown dependencies and overseas territories to

maintain a public register of owners, directors, major

shareholders and beneficial owners;

(g)    

an assessment of the impact on tax revenues of establishing a public

register of all trusts located within the UK, British Crown Dependencies

and overseas territories, including but not limited to—

(i)    

details of the names of beneficiaries to such trusts;

(ii)    

details of the addresses of beneficiaries to such trusts;

(iii)    

details of assets held by such trusts;

(iv)    

details of any trustees registered within the UK who have

transferred that main residence to non-UK jurisdictions;

(v)    

details of tax avoidance schemes involving trusts which are

currently disclosed to the HMRC.

(3)    

For the purposes of this section, the “UK Tax Gap” means the difference in any

financial year between the amount of tax HMRC should be entitled to collect and

Notices of Amendments: 31 August 2016                  

34

Finance Bill, continued

the tax actually collected in that financial year which derives from tax avoidance

and tax evasion.”

Barry Gardiner

John McDonnell

Rebecca Long Bailey

NC15

To move the following Clause—

“VAT on Installation of Energy Saving Materials

(1)    

No order shall be made under the Value Added Tax Act 1994 which would have

the effect of raising the rate of VAT on installation of energy saving materials, or

any individual category thereof.

(2)    

No order shall be made under the Value Added Tax Act 1994 to vary Schedule

7A of that Act by deleting or varying any description of supply within Group 2

(Installation of Energy Saving Materials).

(3)    

“Installation of energy saving materials” has the meaning given in Schedule 7A

of the Value Added Tax Act 1994.””

Tim Farron

Tom Brake

NC16

To move the following Clause—

“Review of impact of tax measures on intergenerational fairness

(1)    

Within six months of the passage of this Act the Secretary of State must lay before

Parliament a report assessing the impact of —

(a)    

Sections 1 to 3,

(b)    

Sections 19 to 22,

(c)    

Section 82,

(d)    

Sections 92 to 96, and

(e)    

Section 140

on the burden of taxation by age demographic.

(2)    

A report under this section must include an analysis of the proportion of taxation

paid by working age people under the age of 35.”

Mr Chancellor of the Exchequer

132

Clause  18,  page  26,  line  25,  leave out “December 2016” and insert “April 2017”

Notices of Amendments: 31 August 2016                  

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Finance Bill, continued

Mr Chancellor of the Exchequer

133

Clause  18,  page  26,  line  30,  leave out “December 2016” and insert “April 2017”

Mr Chancellor of the Exchequer

134

Clause  18,  page  26,  line  32,  leave out “December 2016” and insert “April 2017”

Mr Chancellor of the Exchequer

146

Clause  19,  page  27,  line  7,  leave out “(4)” and insert “(4A)”

Mr Chancellor of the Exchequer

147

Clause  19,  page  28,  line  2,  at end insert—

“(4A)    

After subsection (5E) insert—

“(5F)    

Where—

(a)    

benefit crystallisation event 5C occurs by reason of the

designation on or after 6 April 2015 of sums or assets held for the

purposes of an arrangement relating to the individual, and

(b)    

the individual died before 6 April 2012,

the standard lifetime allowance at the time of the benefit crystallisation

event is £1,800,000.

(5G)    

Where—

(a)    

benefit crystallisation event 5C occurs by reason of the

designation on or after 6 April 2015 of sums or assets held for the

purposes of an arrangement relating to the individual, and

(b)    

the individual died in the period consisting of the tax year 2012-

13 and the tax year 2013-14,

the standard lifetime allowance at the time of the benefit crystallisation

event is £1,500,000.

(5H)    

Where—

(a)    

benefit crystallisation event 5C occurs by reason of the

designation on or after 6 April 2016 of sums or assets held for the

purposes of an arrangement relating to the individual, and

(b)    

the individual died in the period consisting of the tax year 2014-

15 and the tax year 2015-16,

the standard lifetime allowance at the time of the benefit crystallisation

event is £1,250,000.

(5I)    

Where—

(a)    

benefit crystallisation event 5D occurs by reason of a person

becoming entitled on or after 6 April 2016 to an annuity in

respect of the individual, and

(b)    

the individual died in the period beginning with 3 December

2014 and ending with 5 April 2016,

the standard lifetime allowance at the time of the benefit crystallisation

event is £1,250,000.””