Session 2017-19
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Public Bill Committee: 24 October 2017                  

8

 

Finance Bill, continued

 
 

(c)    

the effects on the matters specified in paragraphs (a) and (b) if those

 

provisions were repealed.

 

(3)    

For the purposes of this section, “the provisions for the protection of overseas

 

trusts” means the provisions inserted by paragraphs 18 to 38 and 40 of Schedule

 

8 to this Act.

 

(4)    

The Chancellor of the Exchequer shall lay a report of the review under this section

 

before the House of Commons within three months of its completion.”

 

Member’s explanatory statement

 

This new clause requires a review to be undertaken of the effects of the provisions for protecting

 

overseas trusts from the new provisions in relation to deemed domicile.

 


 

Kelvin Hopkins

 

NC4

 

To move the following Clause—

 

         

“Distributional analysis of the impact of taxation measures

 

(1)    

The Chancellor of the Exchequer must review the impact of the measures

 

introduced by this Act on households at different levels of income, and lay before

 

each House of Parliament the report of that review within six months of this Act

 

coming into force.

 

(2)    

The Chancellor of the Exchequer must review the impact of government fiscal

 

measures on households at different levels of income at least once in each

 

calendar year, and lay before each House of Parliament a report on each review.”

 

Member’s explanatory statement

 

This new clause requires a review to be undertaken of the impact of the measures in this Act on

 

households at different levels of income and a yearly review to be carried out on the impact of

 

government fiscal measures on households at different levels of income.

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

NC5

 

To move the following Clause—

 

         

“Annual report on powers in relation to third country goods fulfilment

 

businesses

 

(1)    

The Commissioners must prepare a report on the operation of the provisions of

 

Part 3 of this Act in relation to each tax year after their commencement within six

 

months after the completion of that tax year.

 

(2)    

The Chancellor of the Exchequer shall lay a report under subsection (1) before the

 

House of Commons.

 

(3)    

Each report under subsection (1) shall cover in particular—

 

(a)    

prosecutions for an offence under section 53,

 

(b)    

penalties imposed under Schedule 13,


 
 

Public Bill Committee: 24 October 2017                  

9

 

Finance Bill, continued

 
 

(c)    

the effects on the operation of Part 3 of the United Kingdom’s withdrawal

 

from the European Union or (as the case may be) preparations for that

 

withdrawal,

 

(d)    

implications of the matters specified in sub-paragraph (c) for the

 

activities and resource requirements of HMRC in connection with the

 

provisions of this Part,

 

(e)    

implications of the matters specified in sub-paragraph (c) for the exercise

 

of the powers to make regulations under Part 3, and

 

(f)    

HMRC’s assessment of the extent to which the operation of, or changes

 

to the operation of, comparable provisions in other countries affect

 

businesses in the United Kingdom.”

 

Member’s explanatory statement

 

This new clause requires HMRC to produce an annual report on the operation of Part 3 relating

 

to third party goods fulfilment businesses and specifies some of the information to be included in

 

that annual report.

 

 

Order of the House [12 September 2017]

 

That the following provisions shall apply to the Finance Bill:

 

Committal

 

1.    

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

 

(a)    

Clause 5 (termination payments etc amounts chargeable on

 

employment income) 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;

 

(b)    

Clause 15 (business investment relief) 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;

 

(c)    

Clause 25 (trading profits taxable at the Northern Ireland rate) 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.

 

2.    

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

 

Proceedings in Committee of the whole House

 

3.    

Proceedings in Committee of the whole House shall be completed in one day.

 

4.    

Those proceedings shall be taken in the order shown in the first column of the

 

following Table.

 

5.    

Each part of 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.

 

6.    

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

 

proceedings in Committee of the whole House.


 
 

Public Bill Committee: 24 October 2017                  

10

 

Finance Bill, continued

 
 

        TABLE

 

Proceedings

Time for conclusion of proceedings

 
 

Proceedings committed under

2 hours from commencement of

 
 

paragraph (1)(a) (termination

proceedings on the Bill

 
 

payments etc)

  
 

Proceedings committed under

4 hours from commencement of

 
 

paragraph (1)(b) (business

proceedings on the Bill

 
 

investment relief)

  
 

Proceedings committed under

6 hours from commencement of

 
 

paragraph (1)(c) (trading profits

proceedings on the Bill

 
 

taxable at the Northern Ireland

  
 

rate)

  
 

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 26 October 2017.

 

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.

 

Proceedings on Consideration and up to and including Third Reading

 

10.    

Proceedings on Consideration and any 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 day on which

 

proceedings on Consideration are commenced.

 

11.    

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

 

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

 

12.    

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

 

proceedings on Consideration and up to and including Third Reading.

 

 

Order of the Committee [17 October 2017]

 

That—

 

(1)  

the Committee shall (in addition to its first meeting at 9.25 am on Tuesday 17

 

October) meet—

 

(a)  

at 2.00 pm on Tuesday 17 October; 

 

(b)  

at 11.30 am and 2.00 pm on Thursday 19 October;

 

(c)  

at 9.25 am and 2.00 pm on Tuesday 24 October;

 

(d)  

at 11.30 am and 2.00 pm on Thursday 26 October;

 

(2)  

the proceedings shall be taken in the following order: Clauses 1 to 4; Clauses

 

6 to 14; Schedule 1; Clause 16; Schedule 2; Clause 17; Schedule 3; Clause

 

18; Schedule 4; Clauses 19 and 20; Schedule 5; Clause 21; Schedule 6;

 

Clauses 22 to 24; Schedule 7; Clauses 26 to 29; Schedule 8; Clauses 30 and

 

31; Schedule 9; Clauses 32 and 33; Schedule 10; Clause 34; Schedule 11;

 

Clause 35; Schedule 12; Clauses 36 to 55; Schedule 13; Clauses 56 to 61;

 

Schedule 14; Clauses 62 and 63; Schedule 15; Clauses 64 and 65; Schedule


 
 

Public Bill Committee: 24 October 2017                  

11

 

Finance Bill, continued

 
 

16; Clause 66; Schedule 17; Clause 67; Schedule 18; Clauses 68 to 72; new

 

Clauses; new Schedules; remaining proceedings on the Bill;

 

(3)  

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

 

conclusion at 5.00 pm on Thursday 26 October.

 


 
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Revised 24 October 2017