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Notices of Amendments: 27 November 2018                  

8

 

Finance (No. 3) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

48

 

Parliamentary Star - white    

Clause  21,  page  13,  line  35,  at end insert—

 

“(7)    

The Chancellor of the Exchequer must, within 3 months of the passing of this Act,

 

publish a list of additional non-UK resident companies that are classified as

 

having permanent establishments as a result of restricting the application of

 

section 1143 of the CTA 2010.

 

(8)    

The list in subsection (7) must be updated annually.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to publish a list of all additional

 

permanent establishments created as a result of the changes made by Clause 21 three months after

 

the passing of the Act and annually thereafter.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

49

 

Parliamentary Star - white    

Clause  21,  page  13,  line  35,  at end insert—

 

“(7)    

The Chancellor of the Exchequer must, within six months of the passing of this

 

Act, publish an estimate of the annual revenue effects if the changes made in this

 

section had been made in 2010.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to publish a statement, within six

 

months of the passing of the Act, of the revenue effects if the provisions of Clause 21 had been in

 

effect since 2010.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

50

 

Parliamentary Star - white    

Clause  21,  page  13,  line  35,  at end insert—

 

“(7)    

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

 

restricting the application of section 1143 of the CTA 2010 of the UK leaving the

 

European Union in each of the scenarios in subsection (8) and lay a report of that

 

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

 

(8)    

The scenarios to be considered in the review are—

 

(a)    

the United Kingdom leaves the European Union following the agreement

 

of a withdrawal agreement, or

 

(b)    

the United Kingdom leaves the European Union without a negotiated

 

withdrawal agreement.”

 

Member’s explanatory statement

 

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


 
 

Notices of Amendments: 27 November 2018                  

9

 

Finance (No. 3) Bill, continued

 
 

the EU under (a) a withdrawal agreement and (b) a no deal Brexit on the changes made to the

 

permanent establishments regime in Clause 21.

 


 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

51

 

Parliamentary Star - white    

Clause  24,  page  14,  line  4,  at end insert—

 

“(1A)    

At the end of section 134 of CTA 2010, insert—

 

“(2)    

The Chancellor of the Exchequer must review any change, attributable to

 

the amendments made to this section by section 24 of the Finance Act

 

2019, to payments of corporation tax.

 

(3)    

A report of the review under subsection (2) must be laid before the House

 

of Commons by 5 April 2020.””

 

Member’s explanatory statement

 

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

 

this Clause, as far as they relate to section 134 of the Corporation Tax Act 2010 and report on

 

those changes by the end of the tax year 2019-20.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

52

 

Parliamentary Star - white    

Clause  24,  page  14,  line  4,  at end insert—

 

“(1B)    

At the end of section 134 of CTA 2010, insert—

 

“(4)    

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

 

market attributable to the amendments made to this section by section 24

 

of the Finance Act 2019.

 

(5)    

A report of the review under subsection (4) must be laid before the House

 

of Commons by 5 April 2020.””

 

Member’s explanatory statement

 

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

 

Clause, as far as they relate to section 134 of the Corporation Tax Act 2010, on the property

 

market and report on those changes by the end of the tax year 2019-20.


 
 

Notices of Amendments: 27 November 2018                  

10

 

Finance (No. 3) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

53

 

Parliamentary Star - white    

Clause  24,  page  14,  line  7,  at end insert—

 

“(2A)    

At the end of section 188CJ of CTA 2010, insert—

 

“(2)    

The Chancellor of the Exchequer must review any change, attributable to

 

the amendments made to this section by section 24 of the Finance Act

 

2019, to payments of corporation tax.

 

(3)    

A report of the review under subsection (2) must be laid before the House

 

of Commons by 5 April 2020.””

 

Member’s explanatory statement

 

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

 

this Clause, as far as they relate to section 188CJ of the Corporation Tax Act 2010 and report on

 

those changes by the end of the tax year 2019-20.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

54

 

Parliamentary Star - white    

Clause  24,  page  14,  line  7,  at end insert—

 

“(2B)    

At the end of section 188CJ of CTA 2010, insert—

 

“(4)    

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

 

market attributable to the amendments made to this section by section 24

 

of the Finance Act 2019.

 

(5)    

A report of the review under subsection (4) must be laid before the House

 

of Commons by 5 April 2020.””

 

Member’s explanatory statement

 

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

 

Clause, as far as they relate to section 188CJ of the Corporation Tax Act 2010, on the property

 

market and report on those changes by the end of the tax year 2019-20.

 


 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

55

 

Parliamentary Star - white    

Clause  25,  page  15,  line  6,  at end insert—

 

“(6)    

The Chancellor of the Exchequer must commission a review on the matters

 

specified in subsection (7).

 

(7)    

Those matters are the effects of the amendments made by this section on—


 
 

Notices of Amendments: 27 November 2018                  

11

 

Finance (No. 3) Bill, continued

 
 

(a)    

foreign direct investment in the United Kingdom, and

 

(b)    

mergers and acquisitions involving companies resident in the United

 

Kingdom.

 

(8)    

A report of the review under subsection (6) must be laid before the House of

 

Commons by 1 April 2020.”

 

Member’s explanatory statement

 

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

 

on FDI and mergers and acquisitions, and report on those changes by the end of the tax year 2019-

 

20.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

56

 

Parliamentary Star - white    

Clause  25,  page  15,  line  6,  at end insert—

 

“(6)    

The Chancellor of the Exchequer must commission a review on the effects of the

 

amendments made by this section on the intellectual property market in the

 

United Kingdom.

 

(7)    

A report of the review under subsection (6) must be laid before the House of

 

Commons by 1 April 2020.”

 

Member’s explanatory statement

 

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

 

on the intellectual property market, and report on those changes by the end of the tax year 2019-20.

 


 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

57

 

Parliamentary Star - white    

Clause  29,  page  17,  line  8,  at end insert—

 

“(14)    

No later than two months after the passing of this Act, the Chancellor of the

 

Exchequer must lay before the House of Commons a report on the consultation

 

undertaken on the provisions in this section.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to report on the consultation

 

undertaken on Clause 29.


 
 

Notices of Amendments: 27 November 2018                  

12

 

Finance (No. 3) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

58

 

Parliamentary Star - white    

Clause  29,  page  17,  line  8,  at end insert—

 

“(14)    

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

 

will be created as a result of the exercise of the powers 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

 

the changes made by Clause 29.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

59

 

Parliamentary Star - white    

Clause  29,  page  17,  line  8,  at end insert—

 

“(14)    

The Chancellor of the Exchequer must review the uptake of the relief that will be

 

created as a result of the powers in this section by the groups set out in subsection

 

15.

 

(15)    

The groups that must be considered under the review in subsection 14 are—

 

(a)    

companies with between zero and nine employees,

 

(b)    

companies with between 10 and 250 employees, and

 

(c)    

companies with more than 250 employees.

 

(16)    

A report of the review under subsection (14) must be laid before the House of

 

Commons no later than 12 months after the first exercise of the powers under this

 

section.”

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to review the uptake of this relief

 

among micro-businesses, SMEs and large companies.


 
 

Notices of Amendments: 27 November 2018                  

13

 

Finance (No. 3) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

60

 

Parliamentary Star - white    

Clause  29,  page  17,  line  8,  at end insert—

 

“(14)    

No draft instrument may be laid under this section until the Treasury has carried

 

out a consultation with stakeholders on the qualifying arrangements for the relief

 

that would be created as a result of the powers in this section.”

 

Member’s explanatory statement

 

This amendment would require the Treasury to carry out a consultation with stakeholders on the

 

qualifying arrangements for this allowance.

 


 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

61

 

Parliamentary Star - white    

Clause  30,  page  17,  line  35,  at end insert—

 

“(9)    

The Chancellor of the Exchequer must commission a review on impact of the

 

amendments made by this section on CO2 emissions from plant and machinery

 

operated in the United Kingdom.

 

(10)    

A report of the review under subsection (9) must be laid before the House of

 

Commons by 1 April 2020.”

 

Member’s explanatory statement

 

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

 

on CO2 emissions from plant and machinery, and report on those changes by the end of the tax

 

year 2019-20.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

62

 

Parliamentary Star - white    

Clause  30,  page  17,  line  35,  at end insert—

 

“(9)    

The Chancellor of the Exchequer must commission a review on impact of the

 

amendments made by this section on the prices of—

 

(a)    

household heating and electricity, and

 

(b)    

insulation material.

 

(10)    

A report of the review under subsection (9) must be laid before the House of

 

Commons by 1 April 2020.”

 

Member’s explanatory statement

 

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

 

on the cost of heating, electricity and insulation material and report on those changes by the end

 

of the tax year 2019-20.


 
 

Notices of Amendments: 27 November 2018                  

14

 

Finance (No. 3) Bill, continued

 
 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

63

 

Parliamentary Star - white    

Clause  30,  page  17,  line  35,  at end insert—

 

“(9)    

The Chancellor of the Exchequer must commission a review on impact of the

 

amendments made by this section on the automotive market in the United

 

Kingdom.

 

(10)    

A report of the review under subsection (9) must be laid before the House of

 

Commons by 1 April 2020.”

 

Member’s explanatory statement

 

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

 

on the automotive market in the UK and report on those changes by the end of the tax year 2019-

 

20.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

64

 

Parliamentary Star - white    

Clause  30,  page  17,  line  35,  at end insert—

 

“(9)    

The Chancellor of the Exchequer must commission a review on impact of the

 

amendments made by this section on the level of investment in plant and

 

machinery included as special rate expenditure, where such plant and machinery

 

was made before April 2019.

 

(10)    

A report of the review under subsection (9) must be laid before the House of

 

Commons by 1 April 2020.”

 

Member’s explanatory statement

 

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

 

upon business decisions to invest in eligible plant and machinery made before April 2019 and

 

report on those changes by the end of the tax year 2019-20.

 

John McDonnell

 

Peter Dowd

 

Anneliese Dodds

 

Jonathan Reynolds

 

Clive Lewis

 

Jeff Smith

 

65

 

Parliamentary Star - white    

Clause  30,  page  17,  line  35,  at end insert—

 

“(9)    

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

 

on any consultation undertaken on the provisions in this section.

 

(10)    

A report of the review under subsection (9) must be laid before the House of

 

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

 

Member’s explanatory statement

 

This amendment would require the Chancellor of the Exchequer to report on any consultation

 

undertaken on the provisions in this clause.

 



 
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Revised 27 November 2018