Session 2017-19
Internet Publications
Other Bills before Parliament


 
 

1

 

House of Commons

 
 

Notices of Amendments

 

given up to and including

 

Wednesday 13 December 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

 

Amendments tabled since the last publication: NC9 to NC11

 

Committee of the whole House


 

Finance (No. 2) Bill


 

(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 allowances,


 

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)


 

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withdrawn amendments at the end.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 [11 December 2017].

 


 

CLAUSE 33, SCHEDULE 9, NEW CLAUSES AND NEW SCHEDULES RELATING TO THE

 

BANK LEVY

 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

1

 

Schedule  9,  page  132,  line  32,  leave out from “in” to end of line 33 and insert

 

“accordance with the provisions of section (bank levy: Part 1 of Schedule 9: pre-

 

commencement requirements)”.

 

Member’s explanatory statement

 

This amendment paves the way for NC3.

 



 
 

Notices of Amendments: 13 December 2017                  

2

 

Finance (No. 2) Bill, continued

 
 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

NC1

 

To move the following Clause—

 

         

“Review of operation and effectiveness of bank levy

 

(1)    

Schedule 19 to FA 2011 (bank levy) is amended as follows.

 

(2)    

After paragraph 81, insert—

 

“Part 10

 

Review

 

82  (1)  

Within six months of the passing of the Finance Act 2018, the

 

Chancellor of the Exchequer shall undertake a review of the operation

 

and effectiveness of the bank levy.

 

      (2)  

The review shall consider in particular—

 

(a)    

the effectiveness of the levy in reflecting risks to the financial

 

system and the wider UK economy arising from the banking

 

sector,

 

(b)    

the effectiveness of the levy in encouraging banks to move

 

away from riskier funding models,

 

(c)    

the revenue effects of the changes to the levy made in

 

Schedule 2 to the Finance (No. 2) Act 2015,

 

(d)    

the effectiveness of the anti-avoidance provisions in

 

paragraphs 47 and 48 of this Schedule.

 

      (3)  

A review shall also compare the effects of the bank levy with those of

 

the bank payroll tax (within the meaning given by Schedule 2 to the

 

Finance Act 2010) in relation to—

 

(a)    

revenue, and

 

(b)    

the matters specified in sub-paragraph (2)(a) and (b).

 

      (4)  

A report of the review under this paragraph shall be laid before the

 

House of Commons within one calendar month of its completion.””

 

Member’s explanatory statement

 

This new clause requires the Government to carry out a review of the bank levy, including its

 

effectiveness in relation to its stated aims, the revenue effects of the changes made in 2015 and the

 

comparable effectiveness of the bank payroll tax.

 



 
 

Notices of Amendments: 13 December 2017                  

3

 

Finance (No. 2) Bill, continued

 
 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

NC2

 

To move the following Clause—

 

         

“Public register of entities paying the bank levy and payments made

 

(1)    

Schedule 19 to FA 2011 (bank levy) is amended as follows.

 

(2)    

After paragraph 81, insert—

 

“Part 11

 

Public register of payments

 

83  (1)  

It shall be the duty of the Commissioners for Her Majesty’s Revenue

 

and Customs to maintain a public register of groups paying the bank

 

levy and the amounts paid.

 

      (2)  

In relation to each group, the register shall state whether it is—

 

(a)    

a UK banking group,

 

(b)    

a building society group,

 

(c)    

a foreign banking group, or

 

(d)    

a relevant non-banking group.

 

      (3)  

In relation to each group, the register shall state the amount paid in

 

respect of each chargeable period.

 

      (4)  

In relation to chargeable periods ending between 28 February 2011

 

and 31 December 2017, the Commissioners must public the register no

 

later than 31 October 2018.

 

      (5)  

In respect of subsequent chargeable periods, the Commissioners must

 

public the updated register no later than ten months after the end of the

 

chargeable period.””

 

Member’s explanatory statement

 

This new clause requires HMRC to prepare a public register of banks paying the bank levy and the

 

amount they have paid.

 



 
 

Notices of Amendments: 13 December 2017                  

4

 

Finance (No. 2) Bill, continued

 
 

Jeremy Corbyn

 

John McDonnell

 

Mr Nicholas Brown

 

Peter Dowd

 

Jonathan Reynolds

 

Anneliese Dodds

 

NC3

 

To move the following Clause—

 

         

“Bank levy: Part 1 of Schedule 9: pre-commencement requirements

 

(1)    

Part 1 of Schedule 9 shall come into force in accordance with the provisions of

 

this section.

 

(2)    

No later than 31 October 2020, the Chancellor of the Exchequer shall lay before

 

the House of Commons an account of the effects of the proposed changes in Part

 

1 of Schedule 9—

 

(a)    

on the public revenue,

 

(b)    

in reflecting risks to the financial system and the wider UK economy

 

arising from the banking sector, and

 

(c)    

in encouraging banks to move away from riskier funding models.

 

(3)    

Part 1 of Schedule 9 shall have effect in relation to chargeable periods ending on

 

or after 1 January 2021 if, no earlier than 30 November 2020, the House of

 

Commons comes to a resolution to that effect.”

 

Member’s explanatory statement

 

This new clause requires the Government to provide a separate analysis of the impact of Part 1 of

 

Schedule 9 nearer to the time of proposed implementation in 2021 and to seek the separate

 

agreement of the House of Commons to commencement in the light of that review.

 


 

Stella Creasy

 

Alison McGovern

 

Ann Coffey

 

Mike Gapes

 

Mr Adrian Bailey

 

Jess Phillips

Lucy Powell

Mr David Lammy

Gareth Thomas

Caroline Flint

Liz Saville Roberts

Ben Lake

Hywel Williams

Dame Margaret Hodge

 

NC9

 

Parliamentary Star    

To move the following Clause—

 

         

“Review of possible extension of bank levy to PFI finance groups

 

(1)    

Schedule 19 to FA 2011 (bank levy) is amended as follows.

 

(2)    

After paragraph 81, insert—


 
Back to StartNext
 

Revised 13 December 2017