Finance (No. 3) Bill (HL Bill 304)

Contents

1. Part 1

   Direct taxes

   1. Charge to tax

      1. 1. Income tax charge for tax year 2019-20

      2. 2. Corporation tax charge for financial year 2020

   2. Income tax rates, allowances and limits

      1. 3. Main rates of income tax for tax year 2019-20

      2. 4. Default and savings rates of income tax for tax year 2019-20

      3. 5. Basic rate limit and personal allowance

      4. 6. Starting rate limit for savings for tax year 2019-20

   3. Employment and social security income

      1. 7. Optional remuneration arrangements: arrangements for cars and vans

      2. 8. Exemption for benefit in form of vehicle-battery charging at workplace

      3. 9. Exemptions relating to emergency vehicles

      4. 10. Exemption for expenses related to travel

      5. 11. Beneficiaries of tax-exempt employer-provided pension benefits

      6. 12. Tax treatment of social security income

   4. Chargeable gains: interests in UK land etc

      1. 13. Disposals by non-UK residents etc

      2. 14. Disposals of UK land etc: payments on account of capital gains tax

   5. International matters

      1. 15. Offshore receipts in respect of intangible property

      2. 16. Avoidance involving profit fragmentation arrangements

      3. 17. Non-UK resident companies carrying on UK property businesses etc

      4. 18. Diverted profits tax

      5. 19. Hybrid and other mismatches: scope of Chapter 8 and “financial instrument”

      6. 20. Controlled foreign companies: finance company exemption and control

      7. 21. Permanent establishments: preparatory or auxiliary activities

      8. 22. Payment of CGT exit charges

      9. 23. Corporation tax exit charges

      10. 24. Group relief etc: meaning of “UK related” company

   6. Corporation tax: miscellaneous

      1. 25. Intangible fixed assets: exceptions to degrouping charges etc

      2. 26. Corporation tax relief for carried-forward losses

      3. 27. Corporate interest restriction

      4. 28. Debtor relationships of company where money lent to connected companies

   7. Capital allowances

      1. 29. Construction expenditure on buildings and structures

      2. 30. Special rate expenditure on plant and machinery

      3. 31. Temporary increase in annual investment allowance

      4. 32. First-year allowances and first-year tax credits

      5. 33. First-year allowance: expenditure on electric vehicle charge points

      6. 34. Qualifying expenditure: buildings, structures and land

   8. Leases

      1. 35. Changes to accounting standards etc

   9. Oil activities and petroleum revenue tax

      1. 36. Oil activities: transferable tax history

      2. 37. Petroleum revenue tax: post-transfer decommissioning expenditure

   10. Miscellaneous reliefs

       1. 38. Entrepreneurs’ relief

       2. 39. Gift aid etc: restrictions on associated benefits

       3. 40. Charities: exemption for small trades etc

2. Part 2

   Other taxes

   1. Stamp duty land tax

      1. 41. Relief for first-time buyers in cases of shared ownership

      2. 42. Repayment to first-time buyers in cases of shared ownership

      3. 43. Higher rates of tax for additional dwellings etc

      4. 44. Exemption in respect of financial institutions in resolution

      5. 45. Changes to periods for delivering returns and paying tax

   2. Stamp duty and SDRT

      1. 46. Stamp duty: transfers of listed securities and connected persons

      2. 47. SDRT: listed securities and connected persons

      3. 48. Stamp duty: exemption in respect of financial institutions in resolution

      4. 49. Stamp duty and SDRT: exemptions in respect of share incentive plans

   3. Value added tax

      1. 50. Duty of customers to account for tax on supplies

      2. 51. Treatment of vouchers

      3. 52. Groups: eligibility

   4. Alcohol

      1. 53. Rates of duty on cider, wine and made-wine

      2. 54. Excise duty on mid-strength cider

   5. Tobacco

      1. 55. Rates

      2. 56. Tobacco for heating

   6. Vehicle duties

      1. 57. VED: rates for light passenger vehicles, light goods vehicles, motorcycles etc

      2. 58. VED: taxis capable of zero emissions

      3. 59. HGV road user levy

   7. Air passenger duty

      1. 60. Rates of duty from 1 April 2020

   8. Gaming

      1. 61. Remote gaming duty: rate

      2. 62. Gaming duty

   9. Environmental taxes

      1. 63. Climate change levy: exemption for mineralogical and metallurgical
         processes

      2. 64. Landfill tax rates

   10. Inheritance tax

       1. 65. Residence nil-rate band

   11. Soft drinks industry levy

       1. 66. Application of penalty provisions

       2. 67. Isle of Man

3. Part 3

   Carbon emissions tax

   1. Introductory

      1. 68. Carbon emissions tax

   2. Charge to tax

      1. 69. Charge to carbon emissions tax

      2. 70. “Reported carbon emissions”

      3. 71. “Emissions report” and “reporting period”

      4. 72. “Emissions allowance”

      5. 73. Liability to pay carbon emissions tax

   3. Administration etc.

      1. 74. Power to make further provision about carbon emissions tax

      2. 75. Consequential provision

   4. General

      1. 76. Interpretation

      2. 77. Regulations

      3. 78. Commencement and transitional provision

4. Part 4

   Administration and enforcement

   1. Time limits for assessments etc

      1. 79. Offshore matters or transfers: income tax and capital gains tax

      2. 80. Offshore matters or transfers: inheritance tax

   2. Security deposits

      1. 81. Construction industry scheme and corporation tax etc

   3. International agreements

      1. 82. Resolution of double taxation disputes

      2. 83. International tax enforcement: disclosable arrangements

   4. Payment of unlawful advance corporation tax

      1. 84. Interest in respect of unlawful ACT

      2. 85. Section 84: supplementary

   5. Voluntary returns

      1. 86. Voluntary returns

   6. Interest

      1. 87. Interest under section 178 of FA 1989 and section 101 of FA 2009

5. Part 5

   Miscellaneous and final

   1. Regulatory capital securities

      1. 88. Regulatory capital securities and hybrid capital instruments

   2. EU withdrawal

      1. 89. Minor amendments in consequence of EU withdrawal

   3. Preparatory expenditure

      1. 90. Emissions reduction trading scheme: preparatory expenditure

   4. Reviews

      1. 91. Impact analyses of the anti-avoidance provisions of this Act

      2. 92. Review of effectiveness of provisions on tax avoidance

      3. 93. Review of public health effects of gaming provisions

   5. Other

      1. 94. Interpretation

      2. 95. Short title

6. 1. Schedule 1

      Chargeable gains accruing to non-residents etc

      1. Part 1

         Extending cases in which non-residents are charged to tax etc

      2. Part 2

         Consequential amendments

      3. Part 3

         Commencement and transitional provisions etc

   2. Schedule 2

      Returns for disposals of UK land etc

      1. Part 1

         Returns and payments on account: disposals of UK land etc

      2. Part 2

         Notification of chargeable amounts, amendments of returns,
         enquiries etc

      3. Part 3

         Consequential amendments

   3. Schedule 3

      Offshore receipts in respect of intangible property

   4. Schedule 4

      Avoidance involving profit fragmentation arrangements

   5. Schedule 5

      Non-UK resident companies carrying on UK property
      businesses etc

      1. Part 1

         Extension of scope of charge

      2. Part 2

         Supplementary & Consequential amendments

      3. Part 3

         Commencement and transitional provisions

   6. Schedule 6

      Diverted profits tax

   7. Schedule 7

      Payment of CGT exit charges

   8. Schedule 8

      Corporation tax exit charges

      1. Part 1

         CT exit charge payment plans

      2. Part 2

         Repeal of certain postponement provisions

      3. Part 3

         Treatment of assets subject to EU exit charges

   9. Schedule 9

      Corporation tax relief for carried-forward losses

   10. Schedule 10

       Corporate interest restriction

   11. Schedule 11

       Eliminating tax mismatch for certain debt

   12. Schedule 12

       Annual investment allowance: periods straddling 1 January
       2019 or 1 January 2021

   13. Schedule 13

       Leases: changes to accounting standards etc

       1. Part 1

          Finance leases: amendments as a result of changes to
          accounting standards

       2. Part 2

          Long funding leases

       3. Part 3

          Changes to accounting standards and tax adjustments

   14. Schedule 14

       Oil activities: transferable tax history

       1. Part 1

          Election to transfer tax history

       2. Part 2

          The total TTH amount

       3. Part 3

          Effect of a TTH election on the seller

       4. Part 4

          Effect of a TTH election on the purchaser

       5. Part 5

          TTH activation

       6. Part 6

          Allocation of activated TTH amount

       7. Part 7

          Supplementary charge: recalculation of adjusted ring fence
          profits

       8. Part 8

          TTH elections: conditions and procedure

       9. Part 9

          TTH elections: approval

       10. Part 10

           TTH elections: effective date and withdrawal

       11. Part 11

           TTH elections: inaccuracies

       12. Part 12

           Chargeable gains

       13. Part 13

           Onward sale

       14. Part 14

           Supplementary

       15. Part 15

           Interpretation

   15. Schedule 15

       Entrepreneurs’ relief

   16. Schedule 16

       VAT treatment of vouchers

   17. Schedule 17

       VAT groups: eligibility

       1. Part 1

          Eligibility of individuals and partnerships

       2. Part 2

          Consequential amendments

   18. Schedule 18

       Gaming duty

   19. Schedule 19

       Taxation of hybrid capital instruments

       1. Part 1

          Revocation of special rules for regulatory capital securities

       2. Part 2

          Corporation tax, income tax and capital gains tax

       3. Part 3

          Stamp duty and stamp duty reserve tax