Session 2017-19
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Other Bills before Parliament


 
 

1

 

House of Commons

 
 

Thursday 11 January 2018

 

Public Bill Committee Proceedings

 

Finance (No. 2) Bill


 

(Except Clause 8; Clause 33 and Schedule 9; Clauses 40 and 41 and Schedule 11; New Clauses


 

or new Schedules relating to the income tax treatment of armed forces’ accommodation al­


 

lowances, the bank levy, stamp duty land tax, the effect of the Bill on equality, or the effect of


 

the Bill on tax avoidance or evasion)


 

[Third and Fourth Sittings]


 

Glossary

 

This document shows the fate of each clause, schedule, amendment and new clause.

 

The following terms are used:

 

Agreed to: agreed without a vote.

 

Agreed to on division: agreed following a vote.

 

Negatived: rejected without a vote.

 

Negatived on division: rejected following a vote.

 

Not called: debated in a group of amendments, but not put to a decision.

 

Not moved: not debated or put to a decision.

 

Question proposed: debate underway but not concluded.

 

Withdrawn after debate: moved and debated but then withdrawn, so not put to a decision.

 

Not selected: not chosen for debate by the Chair.

 

 


 

Clause 18 Agreed to.

 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

Not selected  45

 

Schedule  6,  page  88,  line  32,  at end insert—


 
 

Public Bill Committee Proceedings: 11 January 2018        

2

 

Finance (No. 2) Bill, continued

 
 

“Part 6

 

Returns: payment on account

 

16  (1)  

TMA 1970 is amended as follows.

 

      (2)  

After section 12AC (notice of enquiry), insert—

 

“12ACA 

  Requirement for payment on account

 

(1)    

In any case where notice of an enquiry has been given under section

 

12AC(1) in respect of a return, an officer of the Board may require a

 

payment on account from a partner in respect of that partner and other

 

partners (whether in respect of that return or a return for a subsequent

 

tax year).

 

(2)    

Sections 59A and 59AB apply to payments made under this section as

 

they apply to payments made under section 59A.”

 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

Not called  50

 

Schedule  6,  page  88,  line  32,  at end insert—

 

“Part 6

 

Returns: payment on account

 

16  (1)  

TMA 1970 is amended as follows.

 

      (2)  

After section 12AC (notice of enquiry), insert—

 

“12AD

  Review of proposal for power to require payment on account

 

(1)    

Within one month of the passing of the Finance Act 2018 the

 

Chancellor of the Exchequer must commission a review into the

 

effects of introducing a power to allow HMRC to require payment on

 

account for returns where an enquiry has been given under section

 

12AC(1) in respect of a return.

 

(2)    

The review under this section must consider—

 

(a)    

the administrative implications for HMRC,

 

(b)    

the impact on the taxation regime for partnerships, and

 

(c)    

the potential revenue effects of the change.

 

(3)    

The Chancellor of the Exchequer must lay the report of this review

 

before the House of Commons within six months of the passing of the

 

Finance Act 2018.””

 

Schedule Agreed to.

 

Clauses 19 to 23 Agreed to.

 



 
 

Public Bill Committee Proceedings: 11 January 2018        

3

 

Finance (No. 2) Bill, continued

 
 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

Negatived on division  49

 

Schedule  7,  page  96,  line  22,  at end insert—

 

“Review of operations

 

18A      

After section 259M, insert—

 

“259O

  Hybrid and other mismatches measures: review of operation

 

(1)    

Within 12 months after the passing of the Finance Act 2018, the

 

Chancellor of the Exchequer must review the operation of the

 

measures in this Part.

 

(2)    

The review under this section must consider—

 

(a)    

the impact of the measures on the use of hybrid transfer

 

arrangements;

 

(b)    

the impact of the measures on the revenue effects of the use of

 

hybrid transfer arrangements to reduce a person’s tax liability;

 

(c)    

possible alternative or additional measures to reduce the use

 

of hybrid transfer arrangements to reduce a person’s tax

 

liability;

 

(d)    

whether the measures constitute application of EU Directive

 

2016/1164 (“The Anti Tax Avoidance Directive”), including

 

in what ways the measures do not constitute an application of

 

that directive.

 

(3)    

The Chancellor of the Exchequer must lay before the House of

 

Commons the report of the review under this section as soon as

 

practicable after its completion.””

 

Schedule Agreed to.

 

Clause 24 Agreed to.

 


 

Mel Stride

 

Agreed to  46

 

Schedule  8,  page  100,  line  24,  at end insert “or held for distribution to owners”

 

Mel Stride

 

Agreed to  47

 

Schedule  8,  page  100,  leave out lines 27 to 29 and insert “each of the following

 

expressions has the meaning given by international accounting standards—

 

“held for distribution to owners”

 

“held for sale”

 

“subsidiary”.”

 

Schedule, as amended, Agreed to.


 
 

Public Bill Committee Proceedings: 11 January 2018        

4

 

Finance (No. 2) Bill, continued

 
 

Clause 25 Agreed to.

 


 

Peter Dowd

 

Anneliese Dodds

 

Jeff Smith

 

Withdrawn  48

 

Clause  26,  page  18,  line  35,  at end insert—

 

“(7A)    

Within 12 months of the passing of this Act, the Chancellor of the Exchequer

 

must review the impact of the provisions of this section.

 

(7B)    

A review under subsection (7A) must consider the revenue effects of freezing

 

indexation allowance for gains chargeable to corporation tax.

 

(7C)    

The Chancellor of the Exchequer must lay before the House of Commons the

 

report of the review under subsection (7A) as soon as practicable after its

 

completion.”

 

Clause Agreed to.

 

Clauses 27 to 29 Agreed to.

 


 

[Adjourned until Tuesday 16 January at 9.25am


 

 

Revised 11 January 2018