Session 2017-19
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Other Bills before Parliament


 
 

1

 

House of Commons

 
 

Notices of Amendments

 

given up to and including

 

Friday 13 October 2017

 

New Amendments handed in are marked thus Parliamentary Star

 

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

 

Public Bill Committee


 

Finance Bill


 

(Except 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withdrawn amendments at the end.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 to be proposed by Mel Stride.

 

 


 

Mel Stride

 

To move, That the Bill be considered in the following order, namely, 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 16; Clause 66; Schedule 17; Clause 67; Schedule 18; Clauses 68 to 72;

 

new Clauses; new Schedules; remaining proceedings on the Bill.

 



 
 

Notices of Amendments: 13 October 2017                  

2

 

Finance Bill, continued

 
 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

13

 

Parliamentary Star - white    

Clause  2,  page  5,  line  7,  at end insert—

 

“(5A)    

After section 170 (Orders etc relating to this Chapter), insert—

 

“170A

  Review of changes to appropriate percentages etc for cars

 

(1)    

Prior to 31 March 2018, the Commissioners for Her Majesty’s Revenue

 

and Customs shall complete a review of the forecast effects of the

 

amendments by subsections (1) to (4) of section 2 of the Finance (No. 2)

 

Act 2017.

 

(2)    

The review shall consider in particular the effects on—

 

(a)    

the use of zero and ultra-low emission cars as company cars, and

 

(b)    

air quality in towns and cities

 

    

in each year from 2020-21 to 2030-31.

 

(3)    

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

 

this section before the House of Commons as soon as practicable after its

 

completion.”

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the changes to be made by Clause

 

2 in advance of their implementation.

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

14

 

Parliamentary Star - white    

Clause  3,  page  5,  line  22,  leave out “£500” and insert “£1,000”.

 

Member’s explanatory statement

 

This amendment would increase the income tax exemption in relation to pensions advice from £500

 

to £1,000.

 

Kirsty Blackman

 

David Linden

 

11

 

Parliamentary Star - white    

Clause  3,  page  6,  line  16,  at end insert—

 

“308D

  Review of use of provisions of section 308C

 

(1)    

Within one year of the passing of the Finance (No. 2) Act 2017, the

 

Commissioners for Her Majesty’s Revenue and Customs shall complete a review

 

of the use of the provisions of section 308C in tax years 2017-18 and 2018-19.

 

(2)    

The review shall consider in particular—

 

(a)    

the use of the relief by persons over 55, and

 

(b)    

the use of the relief by women born on or after 6 April 1950.

 

(3)    

The Commissioners shall consult the Financial Conduct Authority in carrying out

 

the review under this section.


 
 

Notices of Amendments: 13 October 2017                  

3

 

Finance Bill, continued

 
 

(4)    

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

 

before the House of Commons as soon as practicable after its completion.”

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the use of the new income tax

 

exemption for pensions advice in the first two years of its operation.

 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

15

 

Parliamentary Star - white    

Clause  3,  page  6,  line  16,  at end insert—

 

“308D

  Review of effectiveness of provisions of section 308C

 

(1)    

Prior to 30 June 2019, the Commissioners for Her Majesty’s Revenue and

 

Customs shall complete a review of the effectiveness of the operation of the

 

provisions of section 308C in tax years 2017-18 and 2018-19.

 

(2)    

The review shall consider in particular—

 

(a)    

the estimated value of the exemption in each tax year,

 

(b)    

the effects of the Conditions in subsections (6) and (7) , and

 

(c)    

the effects of the provisions on the availability and accessibility of

 

relevant pensions advice.

 

(3)    

The Commissioners shall consult the Financial Conduct Authority in carrying out

 

the review under this section.

 

(4)    

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

 

before the House of Commons as soon as practicable after its completion.”

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the effectiveness of the new income

 

tax exemption for pensions advice in the first two years of its operation.

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

16

 

Parliamentary Star - white    

Clause  4,  page  9,  line  23,  at end insert—

 

“(7A)    

After section 716B (Employment intermediaries, etc), insert—

 

“716C

  Review of effectiveness of changes to reliefs for legal expenses

 

(1)    

Prior to 30 June 2019, the Commissioners for Her Majesty’s Revenue

 

and Customs shall complete a review of the effectiveness of the changes

 

made to this Act by section 3 of the Finance (No. 2) Act 2017.

 

(2)    

The review shall consider in particular the estimated value of the

 

additional relief provided as a result of the changes in each tax year.


 
 

Notices of Amendments: 13 October 2017                  

4

 

Finance Bill, continued

 
 

(3)    

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

 

this section before the House of Commons as soon as practicable after its

 

completion.””

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the effectiveness of the changes

 

relating to relief in connection with legal expenses in Clause 4.

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

17

 

Parliamentary Star - white    

Clause  7,  page  15,  line  11,  at end insert—

 

“(4A)    

After section 227G (when pension rights are first flexibly accessed), insert—

 

“227H

  Review of effects of changes to money purchase annual allowance

 

(1)    

Prior to 30 June 2019, the Commissioners for Her Majesty’s Revenue

 

and Customs shall complete a review of the effects of the changes made

 

to this Act by section 7 of the Finance (No. 2) Act 2017.

 

(2)    

The review shall consider in particular—

 

(a)    

the change to the tax charge applied in each tax year, and

 

(b)    

the behavioural effects of the changes.

 

(3)    

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

 

this section before the House of Commons as soon as practicable after its

 

completion.””

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the effects of the change to the

 

money purchase annual allowance in Clause 7.

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

18

 

Parliamentary Star - white    

Clause  8,  page  15,  line  17,  at end insert—

 

“(1A)    

After section 13A (income charged at the dividend nil rate), insert—

 

“13B  

  Review of effects of changes to dividend nil rate

 

(1)    

Prior to 30 June 2019, the Commissioners for Her Majesty’s Revenue

 

and Customs shall complete a review of the effects of the changes made

 

to this Act by section 8 of the Finance (No. 2) Act 2017.

 

(2)    

The review shall consider in particular the effects on the self-employed.


 
 

Notices of Amendments: 13 October 2017                  

5

 

Finance Bill, continued

 
 

(3)    

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

 

this section before the House of Commons as soon as practicable after its

 

completion.””

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the effects of the change to the

 

dividend nil rate in Clause 8.

 

Kirsty Blackman

 

David Linden

 

12

 

Parliamentary Star - white    

Page  15,  line  15,  leave out Clause 8

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

19

 

Parliamentary Star - white    

Clause  9,  page  17,  line  45,  at end insert—

 

“512B

  Review of operation of sections 507A and 512A

 

(1)    

Prior to 30 June 2020, the Commissioners for Her Majesty’s Revenue and

 

Customs shall complete a review of the operation of sections 507A and 512A.

 

(2)    

The review shall consider in particular—

 

(a)    

the number of applications made under each section,

 

(b)    

the number of occasions a gain was recalculated on a just and reasonable

 

basis under each section.

 

(3)    

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

 

before the House of Commons as soon as practicable after its completion.”

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the operation of the new

 

provisions for requests for new calculations in relating to wholly disproportionate gains by

 

policyholders.

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

20

 

Parliamentary Star - white    

Schedule  1,  page  103,  line  37,  at end insert—

 

“10A      

After section 257TE (minor definitions etc), insert—

 

“257TF 

  Review of operation of this Part

 

(1)    

Prior to 30 June 2019, the Commissioners for Her Majesty’s Revenue

 

and Customs shall complete a review of the operation of social

 

investment tax relief.

 

(2)    

The review shall consider in particular—

 

(a)    

the effects of changes made to this Part by Schedule 1 to the

 

Finance (No. 2) Act 2017, and


 
 

Notices of Amendments: 13 October 2017                  

6

 

Finance Bill, continued

 
 

(b)    

the effectiveness of the anti-abuse provision.

 

(3)    

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

 

this section before the House of Commons as soon as practicable after

 

its completion.””

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the operation of social investment

 

tax relief, including the changes to it made by Schedule 1.

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

21

 

Parliamentary Star - white    

Schedule  3,  page  155,  line  15,  at end insert—

 

“Chapter 3

 

Review of chapters 1 and 2

 

783BR

  Review of operation of this Part

 

(1)    

Prior to 30 June 2020, the Commissioners for Her Majesty’s Revenue and

 

Customs shall complete a review of the operation of the provisions of this Part.

 

(2)    

The review shall consider in particular—

 

(a)    

the use and effects of full relief,

 

(b)    

the use and effects of partial relief,

 

(c)    

the use of relief in relation to trading income, and

 

(d)    

the use of relief in relation to property income.

 

(3)    

The review shall compare the effects on the Exchequer in each of the first two

 

years of its operation with the effects forecast by the Office for Budget

 

Responsibility at the time of—

 

(a)    

the 2016 Budget, and

 

(b)    

the 2016 Autumn Statement.

 

(4)    

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

 

before the House of Commons as soon as practicable after its completion.”

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the operation of the new trading

 

and property allowances in the first two relevant tax years.

 



 
 

Notices of Amendments: 13 October 2017                  

7

 

Finance Bill, continued

 
 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

22

 

Parliamentary Star - white    

Schedule  4,  page  230,  line  37,  at end insert—

 

“188FAA 

  Review of operation of this Part

 

(1)    

Prior to 30 June 2020, the Commissioners for Her Majesty’s Revenue and

 

Customs shall complete a review of the operation of the provisions of this Part.

 

(2)    

The review shall consider in particular—

 

(a)    

the use and effects of reliefs under this Part,

 

(b)    

the effects on the Exchequer in each year of operation,

 

(c)    

a comparison of the amounts referred to in paragraph (b) and any official

 

forecasts of those amounts prior to the introduction of this Part.

 

(3)    

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

 

before the House of Commons as soon as practicable after its completion.”

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the operation of the provisions for

 

group relief for carried-forward losses.

 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

23

 

Parliamentary Star - white    

Schedule  4,  page  247,  line  2,  at end insert—

 

“55A (1)  

Prior to 30 June 2019, the Commissioners for Her Majesty’s Revenue and

 

Customs shall complete a review in accordance with the provisions of this

 

paragraph.

 

      (2)  

The review shall consider the changes made in—

 

(a)    

paragraphs 24 to 26 of this Schedule in relation to insurance

 

companies,

 

(b)    

paragraphs 27 to 46 of this Schedule in relation to certain creative

 

industries,

 

(c)    

paragraphs 47 to 55 of this Schedule in relation to oil activities.

 

      (3)  

The review shall consider in particular and in relation to each of the sectors

 

mentioned in sub-paragraph (2)—

 

(a)    

the use and effects of the changes made,

 

(b)    

the effects on the Exchequer in each year of operation,

 

(c)    

a comparison of the amounts referred to in paragraph (b) and any

 

official forecasts of those amounts prior to the introduction of this

 

Part, and

 

(d)    

any effects on the economic activities of companies and others in each

 

of the sectors mentioned in sub-paragraph (2).

 

      (4)  

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

 

paragraph before the House of Commons as soon as practicable after its

 

completion.”

 

Member’s explanatory statement

 

This amendment would require HMRC to undertake a review of the operation of the provisions for

 

carrying forward trade losses for insurance companies, creative industries and oil activities.

 



 
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Revised 13 October 2017