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Finance (No. 2) Bill (HL Bill 156)

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EUROPEAN CONVENTION ON HUMAN RIGHTS

The Chancellor of the Exchequer has made the following statement under section
19(1)(a) of the Human Rights Act 1998:

In my view the provisions of the Finance (No. 2) Bill are compatible with the
Convention rights.

Contents

  1. Part 1

    Direct taxes

    1. Chapter 1

      Charge and principal rates

      1. Income tax charge and rates

        1. 1. Income tax charge for tax year 2017-18

        2. 2. Main rates of income tax for tax year 2017-18

        3. 3. Default and savings rates of income tax for tax year 2017-18

        4. 4. Starting rate limit for savings for tax year 2017-18

        5. 5. Dividend nil rate for tax year 2018-19 etc

      2. Corporation tax charge

        1. 6. Corporation tax charge for financial year 2018

    2. Chapter 2

      Income tax

      1. Employment income

        1. 7. Workers’ services provided to public sector through intermediaries

        2. 8. Optional remuneration arrangements

        3. 9. Taxable benefits: time limit for making good

        4. 10. Taxable benefits: ultra-low emission vehicles

        5. 11. Taxable benefits: asset made available without transfer

        6. 12. Pensions advice

        7. 13. Legal expenses etc

        8. 14. Termination payments etc: amounts chargeable on employment income

        9. 15. PAYE settlement agreements

      2. Pensions

        1. 16. Money purchase annual allowance

        2. 17. Overseas pensions

        3. 18. Pensions: offshore transfers

      3. Trading and property businesses income

        1. 19. Calculation of profits of trades and property businesses

        2. 20. Trading and property allowances

      4. Investment income

        1. 21. Deduction of income tax at source

        2. 22. Life insurance policies: recalculating gains on part surrenders etc

        3. 23. Personal portfolio bonds

      5. Reliefs relating to investments

        1. 24. EIS and SEIS: the no pre-arranged exits requirement

        2. 25. VCTs: follow-on funding

        3. 26. VCTs: exchange of non-qualifying shares and securities

        4. 27. Social investment tax relief

        5. 28. Business investment relief

    3. Chapter 3

      Corporation tax

      1. Corporation tax reliefs

        1. 29. Carried-forward losses

        2. 30. Losses: counteraction of avoidance arrangements

        3. 31. Corporate interest restriction

        4. 32. Museum and gallery exhibitions

        5. 33. Grassroots sport

        6. 34. Profits from the exploitation of patents: cost-sharing arrangements

      2. Hybrids and other mismatches

        1. 35. Permitted taxable periods of payees and deductions for amortisation

      3. Northern Ireland

        1. 36. Trading profits taxable at the Northern Ireland rate

    4. Chapter 4

      Chargeable gains

      1. 37. Exemption from attribution of carried interest gains

      2. 38. Elections in relation to assets appropriated to trading stock

      3. 39. Substantial shareholding exemption

      4. 40. Substantial shareholding exemption: institutional investors

    5. Chapter 5

      Provisions relating to more than one tax

      1. Domicile, overseas property etc

        1. 41. Deemed domicile: income tax and capital gains tax

        2. 42. Deemed domicile: inheritance tax

        3. 43. Settlements and transfer of assets abroad: value of benefits

        4. 44. Inheritance tax on overseas property representing UK residential property

      2. Employee shareholder shares

        1. 45. Employee shareholder shares: amount treated as earnings

        2. 46. Employee shareholder shares: abolition of CGT exemption

        3. 47. Employee shareholder shares: purchase by company

      3. Disguised remuneration

        1. 48. Employment income provided through third parties

        2. 49. Trading income provided through third parties

        3. 50. Disguised remuneration schemes: restriction of income tax relief

        4. 51. Disguised remuneration schemes: restriction of corporation tax relief

      4. Capital allowances

        1. 52. First-year allowance for expenditure on electric vehicle charging points

      5. Transactions in UK land

        1. 53. Disposals concerned with land in United Kingdom

      6. Co-ownership authorised contractual schemes

        1. 54. Co-ownership authorised contractual schemes: capital allowances

        2. 55. Co-ownership authorised contractual schemes: information requirements

        3. 56. Co-ownership authorised contractual schemes: offshore funds

  2. Part 2

    Indirect taxes

    1. VAT

      1. 57. VAT: zero-rating of adapted motor vehicles etc

    2. Insurance premium tax

      1. 58. IPT: standard rate

      2. 59. IPT: anti-forestalling provision

    3. Landfill tax

      1. 60. Landfill tax: taxable disposals

    4. Air passenger duty

      1. 61. Air passenger duty: rates of duty from 1 April 2017

      2. 62. Air passenger duty: rates of duty from 1 April 2018

    5. Petroleum revenue tax

      1. 63. Petroleum revenue tax: elections for oil fields to become non-taxable

    6. Vehicle excise duty

      1. 64. VED: rates for light passenger vehicles, light goods vehicles, motorcycles etc

    7. Alcohol duties

      1. 65. Alcoholic liquor duties: rates

    8. Gaming duties

      1. 66. Gaming duty: rates

      2. 67. Remote gaming duty: freeplay

    9. Tobacco products

      1. 68. Tobacco products duty: rates

      2. 69. Tobacco products duty: minimum excise duty

      3. 70. Tobacco products manufacturing machinery: licensing scheme

  3. Part 3

    Soft drinks industry levy

    1. Introductory

      1. 71. Soft drinks industry levy

      2. 72. “Soft drink” and “package”

      3. 73. Meaning of “prepared drink”

    2. Chargeable soft drinks

      1. 74. Meaning of “chargeable soft drink”

      2. 75. Sugar content condition

      3. 76. Exempt soft drinks

    3. Charging of the soft drinks industry levy

      1. 77. Charge to soft drinks industry levy

      2. 78. Chargeable events: soft drinks packaged in the UK

      3. 79. Chargeable events: soft drinks imported into the UK

      4. 80. Secondary warehousing regulations

      5. 81. Liability to pay the levy

      6. 82. Levy rates

    4. Exemption etc

      1. 83. Small producer exemption

      2. 84. Meaning of “small producer”

      3. 85. Tax credits

    5. Registration

      1. 86. The register

      2. 87. Liability to register: packagers

      3. 88. Liability to register: producers

      4. 89. Liability to register: imported chargeable soft drinks

      5. 90. Notification of liability and registration

      6. 91. Voluntary registration: small producers

      7. 92. Cancellation of registration under section 87, 88 or 89

      8. 93. Cancellation of voluntary registration

      9. 94. Correction of the register

      10. 95. Applications, notifications etc

    6. Offences

      1. 96. Fraudulent evasion

      2. 97. Failure to notify registration liability

    7. Administration and enforcement

      1. 98. Payment, collection and recovery

      2. 99. Records

      3. 100. Power to make further provision about enforcement

      4. 101. Appeals etc

      5. 102. Supplementary amendments

    8. Miscellaneous

      1. 103. Regulations: death, incapacity or insolvency of person carrying on a business

      2. 104. Provisional collection of soft drinks industry levy

    9. General

      1. 105. Interpretation

      2. 106. Regulations

      3. 107. Commencement

  4. Part 4

    Fulfilment businesses

    1. 108. Carrying on a third country goods fulfilment business

    2. 109. Requirement for approval

    3. 110. Register of approved persons

    4. 111. Regulations relating to approval, registration etc.

    5. 112. Disclosure of information by HMRC

    6. 113. Offence

    7. 114. Forfeiture

    8. 115. Penalties

    9. 116. Appeals

    10. 117. Regulations

    11. 118. Interpretation

    12. 119. Commencement

  5. Part 5

    Administration, avoidance and enforcement

    1. Reporting and record-keeping

      1. 120. Digital reporting and record-keeping for income tax etc

      2. 121. Digital reporting and record-keeping for income tax etc: further amendments

      3. 122. Digital reporting and record-keeping for VAT

    2. Enquiries

      1. 123. Partial closure notices

    3. Avoidance etc

      1. 124. Errors in taxpayers’ documents

      2. 125. Penalties for enablers of defeated tax avoidance

      3. 126. Disclosure of tax avoidance schemes: VAT and other indirect taxes

      4. 127. Promoters of tax avoidance schemes: threshold conditions etc

      5. 128. Requirement to correct certain offshore tax non-compliance

      6. 129. Penalty for transactions connected with VAT fraud etc

    4. Customs enforcement powers

      1. 130. Power to enter premises and inspect goods

      2. 131. Power to search vehicles or vessels

    5. Information

      1. 132. Data-gathering from money service businesses

  6. Part 6

    Final

    1. 133. Northern Ireland welfare payments: updating statutory reference

    2. 134. Interpretation

    3. 135. Short title

    1. Schedule 1

      Workers’ services provided to public sector through
      intermediaries

      1. Part 1

        Preliminary amendments

      2. Part 2

        New Chapter 10 of Part 2 of ITEPA 2003

      3. Part 3

        Consequential amendments

      4. Part 4

        Commencement

    2. Schedule 2

      Optional remuneration arrangements

    3. Schedule 3

      Overseas pensions

      1. Part 1

        Registered pension schemes established outside the UK

      2. Part 2

        Income tax on pension income

      3. Part 3

        Lump sums for UK residents from foreign pension schemes

    4. Schedule 4

      Pensions: offshore transfers

      1. Part 1

        Charges where payments made in respect of overseas
        pensions

      2. Part 2

        Income tax on pension transfers: overseas transfer charge

    5. Schedule 5

      Trades and property businesses: calculation of profits

      1. Part 1

        Trades etc: amendments of ITTOIA 2005

      2. Part 2

        Property businesses: amendments of ITTOIA 2005

      3. Part 3

        Trades etc: amendments of other Acts

      4. Part 4

        Commencement and transitional provision

    6. Schedule 6

      Trading and property allowances

      1. Part 1

        Main provisions

      2. Part 2

        Consequential amendments

      3. Part 3

        Commencement

    7. Schedule 7

      Deduction of income tax at source

      1. Part 1

        Interest distributions of investment trust or authorised
        investment fund

      2. Part 2

        Interest on peer-to-peer lending

      3. Part 3

        Further amendment and commencement

    8. Schedule 8

      Social investment tax relief

      1. Part 1

        Amendments of Part 5B of ITA 2007

      2. Part 2

        Consequential amendments

      3. Part 3

        Commencement

    9. Schedule 9

      Relief for carried-forward losses

      1. Part 1

        Amendment of general rules about carrying forward losses

      2. Part 2

        Restriction on deductions in respect of carried-forward losses

      3. Part 3

        Group relief for carried-forward losses

      4. Part 4

        Insurance companies: carrying forward BLAGAB trade losses

      5. Part 5

        Carrying forward trade losses in certain creative industries

      6. Part 6

        Oil activities

      7. Part 7

        Oil contractors

      8. Part 8

        Tax avoidance

      9. Part 9

        Northern Ireland trading losses etc

      10. Part 10

        Minor and consequential amendments

      11. Part 11

        Commencement etc

    10. Schedule 10

      Corporate interest restriction

      1. Part 1

        New Part 10 of TIOPA 2010

      2. Part 2

        New Schedule 7A to TIOPA 2010

      3. Part 3

        Consequential amendments

      4. Part 4

        Commencement and transitional provision

    11. Schedule 11

      Relief for production of museum and gallery exhibitions

      1. Part 1

        Amendment of CTA 2009

      2. Part 2

        Consequential amendments

      3. Part 3

        Commencement

    12. Schedule 12

      Trading profits taxable at the Northern Ireland rate

      1. Part 1

        Amendments relating to SMEs

      2. Part 2

        Minor amendments

      3. Part 3

        Commencement etc

    13. Schedule 13

      Deemed domicile: income tax and capital gains tax

      1. Part 1

        Application of deemed domicile rule

      2. Part 2

        Protection of overseas trusts

      3. Part 3

        Capital gains tax rebasing

      4. Part 4

        Cleansing of mixed funds

    14. Schedule 14

      Settlements and transfer of assets abroad: value of benefits

    15. Schedule 15

      Inheritance tax on overseas property representing UK
      residential property

    16. Schedule 16

      Employment income provided through third parties

    17. Schedule 17

      Employment income provided through third parties: loans etc
      outstanding on 5 April 2019

      1. Part 1

        Application of Part 7A of ITEPA 2003

      2. Part 2

        Approval of a qualifying loan etc.

      3. Part 3

        Exclusions

      4. Part 4

        Supplementary provision

      5. Part 5

        Consequential amendments

    18. Schedule 18

      Trading income provided through third parties: loans etc
      outstanding on 5 April 2019

    19. Schedule 19

      VAT: zero-rating of adapted motor vehicles etc

    20. Schedule 20

      Soft drinks industry levy: recovery and overpayments

      1. Part 1

        Recovery

      2. Part 2

        Overpayments

      3. Part 3

        Further provision about notices etc.

    21. Schedule 21

      Soft drinks industry levy: requirements to keep records etc:
      penalties

      1. Part 1

        Penalties

      2. Part 2

        Assessments

    22. Schedule 22

      Soft drinks industry levy: appeals and reviews

      1. Part 1

        Appealable decisions

      2. Part 2

        Reviews

      3. Part 3

        Appeals

    23. Schedule 23

      Soft drinks industry levy: supplementary amendments

    24. Schedule 24

      Third country goods fulfilment businesses: penalty

    25. Schedule 25

      Digital reporting and record-keeping: amendment of TMA
      1970

    26. Schedule 26

      Partial closure notices

    27. Schedule 27

      Penalties for enablers of defeated tax avoidance

      1. Part 1

        Liability to penalty

      2. Part 2

        “Abusive” and “tax arrangements”: meaning

      3. Part 3

        “Defeat” in respect of abusive tax arrangements

      4. Part 4

        Persons who “enabled” the arrangements

      5. Part 5

        Amount of penalty

      6. Part 6

        Assessment of penalty

      7. Part 7

        GAAR Advisory Panel opinion, and representations

      8. Part 8

        Appeals

      9. Part 9

        Information

      10. Part 10

        Publishing details of persons who have incurred penalties

      11. Part 11

        Miscellaneous

      12. Part 12

        General

    28. Schedule 28

      Disclosure of tax avoidance schemes: VAT and other indirect
      taxes

      1. Part 1

        Duties to disclose avoidance schemes etc

      2. Part 2

        Penalties

      3. Part 3

        Consequential amendments

      4. Part 4

        Supplemental

    29. Schedule 29

      Requirement to correct certain offshore tax non-compliance

      1. Part 1

        Liability for penalty for failure to correct

      2. Part 2

        Amount of penalty

      3. Part 3

        Further provisions relating to the requirement to correct

      4. Part 4

        Supplementary

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Contents page 1-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80-89 90-99 Last page