Session 2017-19
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Other Bills before Parliament


 
 

1

 

House of Commons

 
 

Wednesday 11 October 2017

 

Committee of the whole House

 

New Amendments handed in are marked thus Parliamentary Star

 

Parliamentary Star - whiteAmendments which will comply with the required notice period at their next appearance

 

Finance Bill


 

(Clause 5 and any new Clauses or new Schedules relating to the tax treatment of payments or


 

benefits received in connection with the termination of an employment or a change in the


 

duties in, or earnings from, an employment; Clause 15 and any new Clauses or new Schedules


 

relating to the conditions under which business investment relief in Chapter A1 of Part 14 of


 

the Income Tax Act 2007 is available; Clause 25 and any new Clauses or new Schedules


 

relating to the extent to which trading profits are chargeable to corporation tax at the


 

Northern Ireland rate)


 

Note

 

This document includes all amendments tabled to date and includes any

 

withdrawn amendments at the end. The amendments have been arranged in

 

accordance with the Order of the House [12 September 2017].

 


 

PROCEEDINGS COMMITTED UNDER PARAGRAPH (1)(A) (TERMINATION PAYMENTS

 

ETC)

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

1

 

Clause  5,  page  12,  leave out lines 8 to 12

 

Member’s explanatory statement

 

This amendment removes the power for the Treasury to amend the meaning of “basic pay” for the

 

purposes of calculating “post-employment notice pay” by regulations.


 
 

Committee of the whole House: 11 October 2017            

2

 

Finance Bill, continued

 
 

Kirsty Blackman

 

Ian Blackford

 

Patrick Grady

 

Alison Thewliss

 

Stewart Hosie

 

Neil Gray

Hannah Bardell

Mhairi Black

Deidre Brock

Alan Brown

Dr Lisa Cameron

Douglas Chapman

Joanna Cherry

Ronnie Cowan

Angela Crawley

Martyn Day

Martin Docherty-Hughes

Marion Fellows

Stephen Gethins

Patricia Gibson

Peter Grant

Drew Hendry

Chris Law

David Linden

Angus Brendan MacNeil

Stewart Malcolm McDonald

Stuart C. McDonald

John McNally

Carol Monaghan

Gavin Newlands

Brendan O’Hara

Tommy Sheppard

Chris Stephens

Dr Philippa Whitford

Pete Wishart

 

12

 

Clause  5,  page  13,  line  27,  at end insert—

 

“402F

  Review of impact of termination payments on low income workers

 

(1)    

Within two months of Royal Assent being given to the Finance (No. 2) Act 2017,

 

the Chancellor of the Exchequer shall commission a review of the impact of the

 

provisions of sections 402A to 402E on low income workers.

 

(2)    

A report of this review must be laid before the House of Commons before the start

 

of the tax year 2018–19.”

 

Member’s explanatory statement

 

This amendment requires the Chancellor of the Exchequer to carry out a review of how the

 

changes to termination payments will affect low income workers before these provisions come into

 

effect.

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

2

 

Clause  5,  page  14,  line  15,  leave out “different” and insert “higher”

 

Member’s explanatory statement

 

This amendment removes the power for the Treasury to reduce the £30,000 threshold in connection

 

with the taxation of termination payments by regulations.

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

3

 

Clause  5,  page  14,  leave out lines 20 to 23

 

Member’s explanatory statement

 

This amendment is consequential upon Amendment 2.


 
 

Committee of the whole House: 11 October 2017            

3

 

Finance Bill, continued

 
 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

4

 

Clause  5,  page  14,  leave out lines 27 and 28 and insert—

 

““(2)    

“Injury” in subsection (1) includes—

 

(a)    

psychiatric injury, and

 

(b)    

injured feelings.””

 

Member’s explanatory statement

 

This amendment explicitly includes (rather than excludes) injured feelings within the definition of

 

“injury” for the purposes of payments which are excluded from the provisions of Chapter 3 of Part

 

6 of the Income Tax (Earnings and Pensions) Act 2003 (payments and benefits on termination of

 

employment).

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

5

 

Page  9,  line  26,  leave out Clause 5

 


 

PROCEEDINGS COMMITTED UNDER PARAGRAPH (1)(B) (BUSINESS INVESTMENT

 

RELIEF)

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

6

 

Clause  15,  page  21,  line  6,  at end insert—

 

“(b)    

in subsection (4), leave out “and B” and insert “to C”;

 

(c)    

leave out subsection (5) and insert—

 

“(5)    

Condition A is defined in section 809VD.

 

(5A)    

Condition B is defined in section 809VF.

 

(5B)    

Condition C is defined in section 809VFA.””

 

Member’s explanatory statement

 

This amendment paves the way for the creation of a new condition to be met in order for business

 

investment to qualify for relief, as set out in Amendment 7.


 
 

Committee of the whole House: 11 October 2017            

4

 

Finance Bill, continued

 
 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

7

 

Clause  15,  page  21,  line  32,  at end insert—

 

“(4A)    

After section 809VF (Condition B) insert—

 

“809VFA 

  Condition C  

 

(1)    

Condition C is that the person making that investment registers the source

 

of the investment on a public register in a manner prescribed by

 

regulations.

 

(2)    

The Treasury shall by regulations prescribe the manner for public

 

registration of the source of investments.

 

(3)    

A statutory instrument containing regulations under subsection (2) may

 

not be made unless a draft of it has been laid before, and approved by a

 

resolution of, the House of Commons.””

 

Member’s explanatory statement

 

This amendment creates a new condition to be met in order for business investment to qualify for

 

relief, namely that the source of the investment appears on a public register.

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

8

 

Clause  15,  page  22,  line  20,  after “section”, insert “(other than those specified in

 

subsection (9))”

 

Member’s explanatory statement

 

This amendment paves the way for Amendment 9.

 

Kirsty Blackman

 

Ian Blackford

 

Patrick Grady

 

Alison Thewliss

 

Stewart Hosie

 

Neil Gray

Hannah Bardell

Mhairi Black

Deidre Brock

Alan Brown

Dr Lisa Cameron

Douglas Chapman

Joanna Cherry

Ronnie Cowan

Angela Crawley

Martyn Day

Martin Docherty-Hughes

Marion Fellows

Stephen Gethins

Patricia Gibson

Peter Grant

Drew Hendry

Chris Law

David Linden

Angus Brendan MacNeil

Stewart Malcolm McDonald

Stuart C. McDonald

John McNally

Carol Monaghan

Gavin Newlands

Brendan O’Hara

Tommy Sheppard

Chris Stephens

Dr Philippa Whitford

Pete Wishart

 

13

 

Clause  15,  page  22,  line  21,  leave out “on or after 6 April 2017” and insert “on or

 

after the date on which the Chancellor of the Exchequer lays before the House of


 
 

Committee of the whole House: 11 October 2017            

5

 

Finance Bill, continued

 
 

Commons a report of the review undertaken under section 809VP of ITA 2007”

 

Member’s explanatory statement

 

This amendment would provide that the changes in Clause 15 do not have effect until after the

 

Chancellor of the Exchequer has laid before the House of Commons the review provided for in

 

NC3.

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

9

 

Clause  15,  page  22,  line  21,  at end insert—

 

“(9)    

The amendments specified in this subsection are—

 

(a)    

the amendments in subsection (2)(b) and (c);

 

(b)    

the amendment in subsection (4A).

 

(10)    

The amendments specified in subsection (9) have effect where the relevant event

 

as defined in section 809VA of ITA 2007 occurs on or after the date of Royal

 

Assent.”

 

Member’s explanatory statement

 

This amendment provides that the amendments to the Income Tax Act 2007 contained in

 

Amendments 6 and 7 shall come into force from the date of Royal Assent.

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

10

 

Page  21,  line  3,  leave out Clause 15

 


 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

NC1

 

To move the following Clause—

 

         

“Review of conditions under which business investment relief is available

 

(1)    

Chapter A1 of Part 14 of ITA 2007 (remittance basis) is amended as follows.

 

(2)    

After section 809VO (investments made from mixed funds), insert—

 

“809VP 

  Review of conditions under which business investment relief is

 

available  

 

(1)    

Within six months of the coming into force of section 15 of the Finance

 

(No. 2) Act 2017, the Commissioners for Her Majesty’s Revenue and


 
 

Committee of the whole House: 11 October 2017            

6

 

Finance Bill, continued

 
 

Customs shall complete a review of the conditions under which business

 

investment relief is available.

 

(2)    

For the purposes of this section “the conditions” means—

 

(a)    

Condition A as defined in section 809VD,

 

(b)    

Condition B as defined in section 809VF.

 

(3)    

The review shall make an estimate of the value of the reliefs granted as a

 

result of the conditions in respect of each tax year for which the relief has

 

been available.

 

(4)    

The review shall make an estimate of the change in the value of the reliefs

 

granted as a result of—

 

(a)    

changes to the conditions relating to eligible hybrid companies,

 

(b)    

changes to the periods specified in sections 809VD and 809VH,

 

(c)    

changes to the grace period in section 809VJ.

 

(5)    

The review shall make an assessment of the effectiveness of the

 

conditions in relation to the stated policy aims of the Government in

 

relation to business investment relief.

 

(6)    

The review shall prepare an analysis of the characteristics of

 

beneficiaries of reliefs having particular regard to—

 

(a)    

income distribution,

 

(b)    

gender and other protected characteristics under the Equality Act

 

2010,

 

(c)    

domicile (including deemed domicile).

 

(7)    

A report of the review under this section shall be laid before the House of

 

Commons within one calendar month of its completion.””

 

Member’s explanatory statement

 

This new clause requires HMRC to carry out a review of the conditions under which business

 

investment relief is available, including estimates of the value of the reliefs (before and after the

 

changes proposed in this Bill) and an analysis of the characteristics of those using the relief,

 

including their domicile status.

 



 
 

Committee of the whole House: 11 October 2017            

7

 

Finance Bill, continued

 
 

Kirsty Blackman

 

Ian Blackford

 

Patrick Grady

 

Alison Thewliss

 

Stewart Hosie

 

Neil Gray

Hannah Bardell

Mhairi Black

Deidre Brock

Alan Brown

Dr Lisa Cameron

Douglas Chapman

Joanna Cherry

Ronnie Cowan

Angela Crawley

Martyn Day

Martin Docherty-Hughes

Marion Fellows

Stephen Gethins

Patricia Gibson

Peter Grant

Drew Hendry

Chris Law

David Linden

Angus Brendan MacNeil

Stewart Malcolm McDonald

Stuart C. McDonald

John McNally

Carol Monaghan

Gavin Newlands

Brendan O’Hara

Tommy Sheppard

Chris Stephens

Dr Philippa Whitford

Pete Wishart

 

NC3

 

To move the following Clause—

 

         

“Review of the efficacy of the conditions for business investment relief

 

(1)    

Chapter A1 of Part 14 of ITA 2007 (remittance basis) is amended as follows.

 

(2)    

After section 809VO (investments made from mixed funds), insert—

 

“809VP 

  Review of efficacy of the conditions for business investment relief

 

(1)    

Within two months of Royal Assent to the Finance (No. 2) Act 2017, the

 

Commissioners for Her Majesty’s Revenue and Customs shall complete

 

a review of the impact of the conditions for business investment relief in

 

encouraging investment in the UK.

 

(2)    

The review shall make an estimate of additional investment as a result of

 

the condition for business investment relief—

 

(a)    

prior to Royal Assent being given to the Finance (No. 2) Act

 

2017, and

 

(b)    

if the changes to those conditions in section 15 of the Finance

 

(No. 2) Act were brought into force.

 

(3)    

The Chancellor of the Exchequer shall lay the report of this review before

 

the House of Commons.””

 

Member’s explanatory statement

 

This new clause requires HMRC to carry out a review of efficacy of the conditions under which

 

business investment relief is available and the Chancellor to lay it before the House of Commons.

 

 



 
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Revised 10 October 2017