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Notices of Amendments: 22 November 2018                  

8

 

Finance (No. 2) Bill, continued

 
 

relating to cars and vans in comparison with uptake and availability of similar arrangements in

 

OECD countries, EU member states, and members of the G20.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

22

 

Parliamentary Star    

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

 

“(8)    

The Chancellor of the Exchequer must review the effect of the provisions in this

 

section on the vehicle hire sector and lay a report of that review before the House

 

of Commons within six months of the passing of this Act.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the impact of clause 7

 

on the UK vehicle rental sector.

 


 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

14

 

Parliamentary Star    

Clause  11,  page  7,  line  39,  at end insert “but only if the requirement in subsection

 

(3) is met.

 

(3)    

The amendment made by subsection (2) may only have effect if the Chancellor

 

of the Exchequer has laid before the House of Commons a forecast of the effect

 

on the public revenue of that amendment coming into effect in the tax year 2019-

 

20 and subsequent tax years.”

 

Member’s explanatory statement

 

This requires a review of the revenue implications of the provisions of this clause to be reported to

 

the House of Commons before this section can have effect.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

15

 

Parliamentary Star    

Clause  11,  page  7,  line  39,  at end insert “but only if the requirement in subsection

 

(3) is met.

 

(3)    

The amendment made by subsection (2) may only have effect if the Chancellor

 

of the Exchequer has laid before the House of Commons a report of a forecast of

 

the effect of that amendment coming into effect on pension benefits to which the

 

exemption in section 307(2) of ITEPA 2003 applies.”

 

Member’s explanatory statement

 

This requires a review of the effect on pension benefits of the provisions of this clause to be

 

reported to the House of Commons before this section can have effect.


 
 

Notices of Amendments: 22 November 2018                  

9

 

Finance (No. 2) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

16

 

Parliamentary Star    

Clause  11,  page  7,  line  39,  at end insert “but only if the requirement in subsection

 

(3) is met.

 

(3)    

The amendment made by subsection (1) may only have effect if the Chancellor

 

of the Exchequer has made a statement to the House of Commons detailing

 

discussions between Her Majesty’s Government and the Charity Commission

 

regarding the provisions of this section.”

 

Member’s explanatory statement

 

This requires a statement to the House of Commons on discussions between the Government and

 

the Charity Commission on this clause.

 


 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

2

 

Parliamentary Star    

Clause  12,  page  9,  line  7,  at end insert—

 

“( )    

The Chancellor of the Exchequer must review the revenue effects of the

 

provisions in this section and lay a report of that review before the House of

 

Commons within six months of the passing of this Act.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the revenue effects of

 

Clause 12.

 


 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

26

 

Parliamentary Star    

Schedule  1,  page  94,  leave out lines 6 and 7

 

Member’s explanatory statement

 

This amendment, together with Amendment 27, would remove the exception in relation to UK land

 

used for trading purposes.


 
 

Notices of Amendments: 22 November 2018                  

10

 

Finance (No. 2) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

27

 

Parliamentary Star    

Schedule  1,  page  94,  leave out from beginning of line 43 to end of line 32 on page 95

 

Member’s explanatory statement

 

See explanatory statement to Amendment 26.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

23

 

Parliamentary Star    

Schedule  1,  page  147,  line  34,  at end insert—

 

“21A      

The Treasury must by regulations require that a list of persons not ordinarily

 

resident in the United Kingdom whose gains are brought into charge by the

 

changes made to TCGA 1992 in this Schedule be published on a public

 

register.”

 

Member’s explanatory statement

 

This amendment would require a public register of those subject to capital gains tax as a result of

 

the provisions in Part 1 of Schedule 1.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

24

 

Parliamentary Star    

Schedule  1,  page  147,  line  34,  at end insert—

 

“21A      

The Chancellor of the Exchequer must review the revenue effects of the

 

changes made to TCGA 1992 in this Schedule and lay a report of that review

 

before the House of Commons within six months of the passing of this Act.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the revenue effects of

 

the changes to capital gains tax as a result of the provisions in Part 1 of Schedule 1.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

25

 

Parliamentary Star    

Schedule  1,  page  147,  line  34,  at end insert—

 

“21A (1)  

The Chancellor of the Exchequer must review the expected effects on the

 

changes made to TCGA 1992 in this Schedule of the UK leaving the European

 

Union in each of the scenarios in sub-paragraph (2) and lay a report of that

 

review before the House within one month of the passing of this Act.

 

      (2)  

The scenarios to be considered in the review are—


 
 

Notices of Amendments: 22 November 2018                  

11

 

Finance (No. 2) Bill, continued

 
 

(a)    

the United Kingdom leaves the European Union without a negotiated

 

withdrawal agreement, or

 

(b)    

the United Kingdom leaves the European Union following the

 

agreement of a withdrawal agreement.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the effects on the

 

changes to capital gains tax as a result of the provisions in Part 1 of Schedule 1 of EU withdrawal

 

under a) no deal and b) a withdrawal agreement.

 

Kirsty Blackman

 

Mhairi Black

 

34

 

Parliamentary Star    

Schedule  1,  page  147,  line  34,  at end insert—

 

“21A      

The Chancellor of the Exchequer must review the expected revenue effects of

 

the changes made to TCGA 1992 in this Schedule, along with an estimate of

 

the difference between the amount of tax required to be paid to the

 

Commissioners under those provisions and the amount paid, and lay a report

 

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

 

of this Act.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the effect on public

 

finances, and on reducing the tax gap, of the changes made to capital gains tax in Schedule 1.

 

Mel Stride

 

1

 

Parliamentary Star    

Schedule  1,  page  164,  line  16,  at end insert—

 

“108A    

In section 2 (charge to corporation tax), omit subsection (2A).”

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

28

 

Parliamentary Star    

Schedule  1,  page  167,  line  47,  at end insert—

 

“Part 2A

 

Review of land holdings

 

“118A (1)  

The Commissioners must, within three months of the end of the tax year 2019-

 

20, provide information to the Treasury on the basis of the exercise of their

 

functions in relation to the changes made in this Schedule about land owned in

 

the United Kingdom by persons not ordinarily resident in the United Kingdom.

 

      (2)  

The Chancellor of the Exchequer must, within six months of the end of the tax

 

year 2019-20, undertake a review of land owned in the United Kingdom by

 

persons not ordinarily resident in the United Kingdom on the basis of

 

information supplied in accordance with sub-paragraph (1) and lay a report of

 

that review before the House of Commons.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the UK landholdings

 

currently owned by non-UK residents on the basis of information supplied by HMRC in the

 

exercise of their functions under this Schedule.


 
 

Notices of Amendments: 22 November 2018                  

12

 

Finance (No. 2) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

29

 

Parliamentary Star    

Schedule  1,  page  167,  line  47,  at end insert—

 

“Part 2A

 

Review of effects on property prices

 

“118A (1)  

The Commissioners must, within three months of the end of the tax year 2019-

 

20, provide information to the Treasury on the basis of the exercise of their

 

functions in relation to the changes made in this Schedule about the effects of

 

the changes on the matters specified in sub-paragraph (2).

 

      (2)  

Those matters are—

 

(a)    

residential property prices in the United Kingdom, and

 

(b)    

the proportion of residential property in the United Kingdom owned

 

by persons not ordinarily resident in the United Kingdom.

 

      (3)  

The Chancellor of the Exchequer must, within six months of the end of the tax

 

year 2019-20, undertake a review of the information supplied in accordance

 

with sub-paragraph (1) and lay a report of that review before the House of

 

Commons.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the effects of the

 

changes in Schedule 1 on residential property prices and foreign ownership of residential

 

property.

 


 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

31

 

Parliamentary Star    

Schedule  2,  page  171,  line  18,  at end insert—

 

    “(4)  

The provisions in this paragraph may not come into effect until the Treasury

 

has published the results of any consultation conducted by Revenue and

 

Customs with representative bodies concerning awareness of the provisions

 

among those who will be covered by them.”

 

Member’s explanatory statement

 

This amendment would delay the commencement of the paragraph in Schedule 2 relating to the

 

obligation to make a return in respect of a disposal to which the Schedule applies, until the

 

Treasury has released details of HMRC‘s consultation with representative bodies concerning

 

awareness of the provisions amongst those who may be covered by them.


 
 

Notices of Amendments: 22 November 2018                  

13

 

Finance (No. 2) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

32

 

Parliamentary Star    

Schedule  2,  page  176,  line  21,  at end insert—

 

“Part 1A

 

Review of effects on public finances

 

17A      

The Chancellor of the Exchequer must review the revenue effects if the

 

provisions in Schedule 2 were introduced from 6 April 2019, and lay a report

 

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

 

of this Act.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the revenue effects of

 

the provisions of Schedule 2 if they were introduced in 2019/20.

 

Kirsty Blackman

 

Mhairi Black

 

33

 

Parliamentary Star    

Schedule  2,  page  176,  line  21,  at end insert—

 

“Part 1A

 

Review of effects on public finances

 

17A      

The Chancellor of the Exchequer must review the expected revenue effects of

 

the changes made to capital gains tax returns and payments on account in this

 

in this Schedule, along with an estimate of the difference between the amount

 

of tax required to be paid to the Commissioners under those provisions and the

 

amount paid, and lay a report of that review before the House of Commons

 

within six months of the passing of this Act.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the effect on public

 

finances, and on reducing the tax gap, of the changes made to capital gains tax in Schedule 2.

 



 
 

Notices of Amendments: 22 November 2018                  

14

 

Finance (No. 2) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

NC1

 

Parliamentary Star    

To move the following Clause—

 

         

“Effect of withdrawal from the European Union on income tax collection

 

    

The Chancellor of the Exchequer must, within one month of the passing of this

 

Act, lay before the House of Commons an analysis of the effect on the level of

 

income tax collected in the event of—

 

(a)    

the United Kingdom withdrawing from the United Kingdom without a

 

negotiated settlement, and

 

(b)    

the United Kingdom withdrawing from the United Kingdom with the

 

negotiated settlement that is preferred by Her Majesty’s Government.”

 

Member’s explanatory statement

 

This amendment requires a review of how income tax revenue may be affected by both a no-deal

 

Brexit and the Government’s preferred negotiated settlement.

 

 

Order of the House [12 November 2018]

 

That the following provisions shall apply to the Finance (No.3) Bill:

 

Committal

 

1.    

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

 

(a)    

Clauses 5, 6, 8, 9 and 10 (income tax thresholds and reliefs);

 

(b)    

Clause 15 and Schedule 3 (offshore receipts in respect of intangible

 

property);

 

(c)    

Clause 16 and Schedule 4 (avoidance involving profit fragmentation

 

arrangements);

 

(d)    

Clause 19 (hybrid and other mismatches: scope of Chapter 8 and

 

“financial instrument”);

 

(e)    

Clause 20 (controlled foreign companies: finance company

 

exemption and control);

 

(f)    

Clause 22 and Schedule 7 (payment of CGT exit charges);

 

(g)    

Clause 23 and Schedule 8 (corporation tax exit charges);

 

(h)    

Clause 38 and Schedule 15 (entrepreneurs’ relief);

 

(i)    

Clauses 39 and 40 (gift aid and charities);

 

(j)    

Clauses 41 and 42 (stamp duty land tax: first-time buyers in cases of

 

shared ownership);

 

(k)    

Clauses 46 and 47 (stamp duty and SDRT);

 

(l)    

Clauses 61 and 62 and Schedule 18 (remote gaming duty and gaming

 

duty);

 

(m)    

Clauses 68 to 78 (carbon emissions tax);

 

(n)    

Clause 83 (international tax enforcement: disclosure arrangements);

 

(o)    

Clause 89 (minor amendments in consequence of EU withdrawal);

 

(p)    

Clause 90 (emissions reduction trading scheme: preparatory

 

expenditure);

 

(q)    

any new Clauses or new Schedules relating to—

 

    

          (i) tax thresholds or reliefs,

 

    

          (ii) the subject matter of any of clauses 68 to 78, 89 and 90,


 
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Revised 22 November 2018