Notices of Amendments: 31 August 2016                  

36

Finance Bill, continued

Mr Chancellor of the Exchequer

148

Clause  19,  page  28,  line  10,  at end insert—

“( )    

The amendment made by subsection (4A)—

(a)    

so far as it consists of the insertion of new subsections (5F) and (5G)—

(i)    

is to be treated as having come into force on 6 April 2015, and

(ii)    

has effect in relation to benefit crystallisation events occurring

on or after that date, and

(b)    

so far as it consists of the insertion of new subsections (5H) and (5I)—

(i)    

is to be treated as having come into force on 6 April 2016, and

(ii)    

has effect in relation to benefit crystallisation events occurring

on or after that date.”

Mr Chancellor of the Exchequer

135

Clause  31,  page  45,  line  20,  leave out subsections (5) and (6) and insert—

“(5)    

In subsection (3A)—

(a)    

for the words from “In the second” to “does not include” substitute “An

investment made by a company (“the investor”) falls within this

subsection if it is”;

(b)    

in paragraph (c) for “the company” substitute “the investor”;

(c)    

after paragraph (c) insert—

“(d)    

money in the investor’s possession;

(e)    

a sum owed to the investor which—

(i)    

under section 285(4)(b) (read with section

285(5) and (6)) is to be regarded as an

investment of the investor, and

(ii)    

is such that the investor’s right mentioned in

section 285(5)(a) may be exercised on 7 days’

notice given by the investor.”

(5A)    

After subsection (3A) insert—

“(3B)    

In subsection (3A), any reference to a thing which may be done on 7

days’ notice includes a case where that thing may be done—

(a)    

on less than 7 days’ notice, or

(b)    

without notice.”

(6)    

In subsection (5)—

(a)    

after paragraph (b) insert—

“(ba)    

amend or repeal subsection (3B) in consequence of any

provision made under paragraph (b),”;

(b)    

in paragraph (c) for the words from “made by” to “(3A)” substitute

“falling within subsection (3A) may be held by the company”.”

Notices of Amendments: 31 August 2016                  

37

Finance Bill, continued

Tim Farron

Tom Brake

178

Page  167,  line  40,  leave out Clause 82

Tim Farron

Tom Brake

179

Clause  99,  page  185,  line  20,  at end insert—

“(c)    

“earning” do not include any amounts that constitute qualifying bonus

payments within the meaning of section 312B of the Income Tax

(Earnings and Pensions) Act 2003.”

Mr Chancellor of the Exchequer

138

Schedule  1,  page  323,  line  35,  at end insert—

“(iii)    

in Type 4 (tax charged at basic rate as a result of section 491),

omit “at the basic rate”, and”

Jonathan Reynolds

141

Schedule  3,  page  337,  line  17,  at end insert—

“Provision for small amounts of partnership share money repayable to employees to be

exempt from tax if instead applied charitably

10         

In section 503 of ITEPA 2003 (charge on partnership share money paid over

to employee), after “paragraph 55(3) (partnership share money paid over on

withdrawal from partnership share agreement),” insert—

“paragraph 55(3A)(a) or (b)(i) (partnership share money paid over on

withdrawal from partnership share agreement),”

11  (1)  

In Schedule 2 to ITEPA 2003 (share incentive plans), Part 6 (partnership

shares) is amended as follows.

      (2)  

In paragraph 55 (withdrawal from partnership share agreement)—

(a)    

in sub-paragraph (3) after “as soon as practicable” insert—

“, unless the plan includes provision authorised by sub-paragraph

(3A)”

(b)    

after sub-paragraph (3) insert—

“(3A)    

The plan may provide that, where an employee withdraws

from a partnership share agreement—

(a)    

if the employee does not agree to an arrangement in

accordance with sub-paragraph (b), any partnership

Notices of Amendments: 31 August 2016                  

38

Finance Bill, continued

share money held on behalf of the employee is to be

paid over to the employee as soon as practicable, and

(b)    

with the employee’s agreement—

(i)    

if the partnership share money held on behalf

of the employee exceeds a threshold amount

of not more than £ 10 specified in the plan,

the full amount must be paid over to the

employee as soon as practicable, and

(ii)    

if the partnership share money held on behalf

of the employee is equal to or less than the

threshold amount referred to in sub-

paragraph (b)(i), as soon as reasonably

practicable, the full amount must either—

be paid over to a charity specified in the plan, or

become held for a reasonable period, in order to be

accumulated with any other amounts that may arise in

that period in the same way, and then paid over to a

charity specified in the plan.

(3B)    

Partnership share money paid over to a charity or accumulated

for that purpose under sub-paragraph (3A)(b) shall not count

as employment income by reason of section 503.

(3C)    

While the plan includes any provision authorised by sub-

paragraph (3A), the company and trustees shall make

available to participants and qualifying employees at least

annually an account of the total amount of partnership share

money that would have been returned to employees were it

not for that provision and of the related charitable donations

made.

(3D)    

The Treasury may by order amend sub-paragraph (3A)(b)(i)

by substituting for any amount for the time being specified

there an amount specified in the order.””

Mr Chancellor of the Exchequer

139

Schedule  17,  page  547,  line  31,  leave out “1 October” and insert “14 November”

Notices of Amendments: 31 August 2016                  

39

Finance Bill, continued

Order of the House [11 APRIL 2016]

That the following provisions shall apply to the Finance (No. 2) Bill:

Committal

1.    

The following shall be committed to a Committee of the whole House—

(1)    

Clauses 7 to 18 and Schedules 2 and 3 (employment income);

(2)    

Clauses 41 and 42 (corporation tax: charge and rates);

(3)    

Clauses 43 and 44 (corporation tax: research and development);

(4)    

Clauses 65 to 71 (capital allowances, trade and property business

profits);

(5)    

Clauses 72 to 81 and Schedules 11 to 14 (capital gains tax);

(6)    

Clause 129 (insurance premium tax);

(7)    

Clauses 132 to 136 (climate change levy);

(8)    

Clauses 144 to 154 and Schedules 18 to 22 (tax avoidance and

evasion);

(9)    

any new Clauses or new Schedules relating to—

(a)    

employment income,

(b)    

the subject matter of Clauses 41 to 44 and 65 to 71,

(c)    

capital gains tax,

(d)    

insurance premium tax,

(e)    

climate change levy, and

(f)    

tax avoidance and evasion.

2.    

The remainder of the Bill shall be committed to a Public Bill Committee.

Proceedings in committee

3.    

Proceedings in Committee of the whole House shall be completed in two

days.

4.    

Those proceedings shall be taken on each of those days as shown in the first

column of the following Table and in the order so shown.

5.    

Each part of the proceedings shall (so far as not previously concluded) be

brought to a conclusion at the time specified in relation to it in the second

column of the Table.

6.    

Standing Order No. 83B (programming committees) shall not apply to

proceedings in Committee of the whole House.

          TABLE

Notices of Amendments: 31 August 2016                  

40

Finance Bill, continued

Proceedings in Public Bill Committee etc

7.    

Proceedings in the Public Bill Committee shall (so far as not previously

concluded) be brought to a conclusion on 14 July.

8.    

The Public Bill Committee shall have leave to sit twice on the first day on

which it meets.

9.    

When the provisions of the Bill considered, respectively, by the Committee

of the whole House and by the Public Bill Committee have been reported to

the House, the Bill shall be proceeded with as if it had been reported as a

whole to the House from the Public Bill Committee.

Consideration and Third Reading

10.    

Proceedings on Consideration, any proceedings in Legislative Grand

Committee and proceedings on Third Reading shall be completed in two

days.

11.    

Proceedings on Consideration and proceedings in Legislative Grand

Committee shall (so far as not previously concluded) be brought to a

conclusion one hour before the moment of interruption on the second day of

proceedings on Consideration.

12.    

Proceedings on Third Reading shall (so far as not previously concluded) be

brought to a conclusion at the moment of interruption on that day.

13.    

Standing Order No. 83B (programming committees) shall not apply to

proceedings on Consideration and up to and including Third Reading.

Notices of Amendments: 31 August 2016                  

41

Finance Bill, continued

finance bill (programme (NO. 2))

Mr Chancellor of the Exchequer

That the following provisions shall apply to the Finance Bill for the purpose of

supplementing the Order of 11 April 2016 in the last Session of Parliament (Finance

(No.   2) Bill (Programme)):

1.    

Paragraphs 11 and 12 of the Order shall be omitted.

2.    

Proceedings on Consideration shall be taken on the days shown in the

following Table and in the order so shown.

3.    

The proceedings shall (so far as not previously concluded) be brought to a

conclusion at the times specified in the second column of the Table.

TABLE

4.    

Proceedings in Legislative Grand Committee and proceedings on Third

Reading shall (so far as not previously concluded) be brought to a conclusion

at 7 pm on the second day of proceedings on Consideration.

Notices of Amendments: 31 August 2016                  

42

Finance Bill, continued

NOTICES WITHDRAWN

The following Notices were withdrawn on 31 August 2016:

NC1, and Amendments 30, 32, 60, 114 and 118