Session 2019-21
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Notices of Amendments: 4 June 2020                     

8

 

Finance Bill, continued

 
 

geographical effects, broken down by nation and NUTS 1 statistical region, of the

 

changes made by sections 27 to 30 of this Act.”

 

Member’s explanatory statement

 

This new clause would require a geographical impact assessment of the clauses of the Bill relating

 

to reliefs for business.

 


 

Bridget Phillipson

 

Wes Streeting

 

Jeff Smith

 

NC3

 

To move the following Clause—

 

         

“Review of impact of Act on nations and regions of the UK

 

(1)    

The Chancellor of the Exchequer must conduct an impact assessment of this Act

 

on the different parts of the United Kingdom and regions of England, and lay this

 

before the House of Commons within six months of Royal Assent.

 

(2)    

This assessment must consider the impact on:

 

(a)    

Household incomes in each part of the United Kingdom and region of

 

England; and

 

(b)    

GDP in each part of the United Kingdom and region of England;

 

(3)    

In this section—

 

“parts of the United Kingdom” means—

 

(a)    

England,

 

(b)    

Scotland,

 

(c)    

Wales, and

 

(d)    

Northern Ireland;

 

and “regions of England” has the same meaning as that used by the Office

 

of National Statistics.”

 

Member’s explanatory statement

 

This new clause would require the Chancellor of the Exchequer to review the impact of this Bill on

 

the nations and regions of the UK.

 


 

Bridget Phillipson

 

Wes Streeting

 

Jeff Smith

 

NC4

 

To move the following Clause—

 

         

“Review of impact of Act on the environment

 

(1)    

The Chancellor of the Exchequer must conduct an assessment of the impact of

 

this Act on the environment, and lay this before the House of Commons within

 

six months of Royal Assent.

 

(2)    

This assessment must consider the impact on:

 

(a)    

the United Kingdom’s ability to achieve the 2050 target for net zero

 

carbon emissions,


 
 

Notices of Amendments: 4 June 2020                     

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Finance Bill, continued

 
 

(b)    

the United Kingdom’s ability to comply with its third, fourth and fifth

 

carbon budgets,

 

(c)    

air quality standards, and

 

(d)    

biodiversity.”

 

Member’s explanatory statement

 

This new clause would require the Chancellor of the Exchequer to review the impact of the Bill on

 

the environment.

 


 

Bridget Phillipson

 

Wes Streeting

 

Jeff Smith

 

NC5

 

To move the following Clause—

 

         

“Review of impact of Act on equalities

 

(1)    

The Chancellor of the Exchequer must conduct an equality impact assessment of

 

the Act, and lay this before the House of Commons within six months of Royal

 

Assent.

 

(2)    

This assessment must consider the possible impacts of this Act on individuals and

 

groups with protected characteristics under the Equality Act 2010.”

 

Member’s explanatory statement

 

This new clause would require the Chancellor of the Exchequer to review the impact of the Bill on

 

equalities.

 


 

Bridget Phillipson

 

Wes Streeting

 

Jeff Smith

 

NC6

 

To move the following Clause—

 

         

“Review of tax reliefs

 

The Chancellor must lay before the House of Commons within a year of Royal

 

Assent a review of the tax reliefs contained in this Act which must contain the

 

following:

 

(1)    

the number of tax reliefs;

 

(2)    

the effect on taxation revenue of each of the tax reliefs; and

 

(3)    

an assessment the efficacy of systems for designing, monitoring and evaluating

 

the effect of the tax reliefs.”

 

Member’s explanatory statement

 

This new clause would require the Chancellor of the Exchequer to report to Parliament on the

 

number and revenue effect of the tax reliefs contained in the Bill, and on the efficiency of systems

 

for designing, and assessing the effects of, such reliefs.

 



 
 

Notices of Amendments: 4 June 2020                     

10

 

Finance Bill, continued

 
 

Alison Thewliss

 

Patrick Grady

 

Owen Thompson

 

Stephen Flynn

 

Peter Grant

 

Alan Brown

 

NC7

 

To move the following Clause—

 

         

“Loan charge: report on effect of the scheme

 

(1)    

The Chancellor of the Exchequer must commission a review, to be carried out by

 

an independent panel, of the impact in parts of the United Kingdom and regions

 

of England of the scheme established under sections 19 and 20 and lay the report

 

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

 

this Act.

 

(2)    

A review under this section must consider the effects of the provisions on—

 

(a)    

business investment,

 

(b)    

employment,

 

(c)    

productivity, and

 

(d)    

company solvency.

 

(3)    

A review under this section must consider the fairness with which HMRC has

 

implemented the policy, including whether HMRC has provided reasonable

 

flexibility around repayment plans with the aim of avoiding business failures and

 

individual bankruptcies.

 

In this section “parts of the United Kingdom” means—

 

(a)    

England,

 

(b)    

Scotland,

 

(c)    

Wales, and

 

(d)    

Northern Ireland;

 

and “regions of England” has the same meaning as that used by the Office

 

for National Statistics.”

 

Member’s explanatory statement

 

This new clause would require a review of the impact of the scheme to be established under

 

Clauses 19 and 20.

 


 

Alison Thewliss

 

Patrick Grady

 

Owen Thompson

 

Stephen Flynn

 

Peter Grant

 

Alan Brown

 

NC8

 

To move the following Clause—

 

         

“Review of changes to entrepreneurs’ relief

 

(1)    

The Chancellor of the Exchequer must review the impact on investment in parts

 

of the United Kingdom and regions of England of the changes made to

 

entrepreneur’s relief by section 22 and Schedule 2 of this Act and lay a report of


 
 

Notices of Amendments: 4 June 2020                     

11

 

Finance Bill, continued

 
 

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

 

Act.

 

(2)    

A review under this section must consider the effects of the provisions on—

 

(a)    

business investment,

 

(b)    

employment, and

 

(c)    

productivity.

 

(3)    

In this section—

 

“parts of the United Kingdom” means—

 

(a)    

England,

 

(b)    

Scotland,

 

(c)    

Wales, and

 

(d)    

Northern Ireland;

 

and “regions of England” has the same meaning as that used by the Office

 

for National Statistics.”

 

Member’s explanatory statement

 

This new clause would require a review of the impact on investment of the changes made to

 

entrepreneurs’ relief.

 


 

Alison Thewliss

 

Patrick Grady

 

Owen Thompson

 

Stephen Flynn

 

Peter Grant

 

Alan Brown

 

NC9

 

To move the following Clause—

 

         

“Review of changes to capital allowances

 

(1)    

The Chancellor of the Exchequer must review the effect of the changes to

 

chargeable gains with respect to corporate capital losses in section 24 and

 

Schedule 3 of this Act in each part of the United Kingdom and each region of

 

England and lay a report of that review before the House of Commons within two

 

months of the passing of this Act.

 

(2)    

A review under this section must consider the effects of the changes on—

 

(a)    

business investment

 

(b)    

employment, and

 

(c)    

productivity.

 

(3)    

A review under this section must consider the effects in the current and each of

 

the subsequent four financial years.

 

(4)    

The review must also estimate the effects on the changes in the event of each of

 

the following—

 

(a)    

the UK leaves the EU withdrawal transition period without a negotiated

 

comprehensive free trade agreement,

 

(b)    

the UK leaves the EU withdrawal transition period with a negotiated

 

agreement, and remains in the single market and customs union, or

 

(c)    

the UK leaves the EU withdrawal transition period with a negotiated

 

comprehensive free trade agreement, and does not remain in the single

 

market and customs union.


 
 

Notices of Amendments: 4 June 2020                     

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Finance Bill, continued

 
 

(5)    

The review must also estimate the effects on the changes if the UK signs a free

 

trade agreement with the United States.

 

(6)    

In this section—

 

“parts of the United Kingdom” means—

 

(a)    

England,

 

(b)    

Scotland,

 

(c)    

Wales, and

 

(d)    

Northern Ireland;

 

and “regions of England” has the same meaning as that used by the Office

 

for National Statistics.”

 

Member’s explanatory statement

 

This new clause requires a review of the impact on investment, employment and productivity of the

 

changes to capital allowance over time; in the event of a free trade agreement with the USA; and

 

in the event of leaving the EU without a trade agreement, with an agreement to retain single market

 

and customs union membership, or with a trade agreement that does not include single market and

 

customs union membership.

 


 

Alison Thewliss

 

Patrick Grady

 

Owen Thompson

 

Stephen Flynn

 

Peter Grant

 

Alan Brown

 

NC10

 

To move the following Clause—

 

         

“Structures and buildings allowances: review

 

(1)    

The Chancellor of the Exchequer must review the impact on investment in parts

 

of the United Kingdom and regions of England of the changes made by section

 

29 and Schedule 4 of this Act and lay a report of that review before the House of

 

Commons within six months of the passing of this Act.

 

(2)    

A review under this section must consider the effects of the provisions on—

 

(a)    

business investment,

 

(b)    

employment,

 

(c)    

productivity, and

 

(d)    

energy efficiency.

 

(3)    

In this section—

 

“parts of the United Kingdom” means—

 

(a)    

England,

 

(b)    

Scotland,

 

(c)    

Wales, and

 

(d)    

Northern Ireland;


 
 

Notices of Amendments: 4 June 2020                     

13

 

Finance Bill, continued

 
 

“regions of England” has the same meaning as that used by the Office for

 

National Statistics.”

 

Member’s explanatory statement

 

This new clause would require a review of the impact on investment of the changes made to

 

structures and buildings allowances in Schedule 4.

 


 

Alison Thewliss

 

Patrick Grady

 

Owen Thompson

 

Stephen Flynn

 

Peter Grant

 

Alan Brown

 

NC11

 

To move the following Clause—

 

         

“Digital Services Tax: review of effect on tax revenues

 

(1)    

The Chancellor of the Exchequer must make an assessment of the net effect on

 

tax revenues of the introduction of the Digital Services Tax and lay a report of

 

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

 

of this Act.

 

(2)    

This review must also include an assessment of the revenue effect of the Digital

 

Services Tax on tax payable by the owners and employees of Scottish Limited

 

Partnerships.”

 

Member’s explanatory statement

 

This new clause would require a Government assessment of the effect on tax revenues of the DST,

 

and in particular the change in revenues associated with Scottish Limited Partnerships.

 


 

Alison Thewliss

 

Patrick Grady

 

Owen Thompson

 

Stephen Flynn

 

Peter Grant

 

Alan Brown

 

NC12

 

To move the following Clause—

 

         

“General anti-abuse rule: review of effect on tax revenues

 

(1)    

The Chancellor of the Exchequer must review the effects on tax revenues of

 

section 98 and Schedule 13 and lay a report of that review before the House of

 

Commons within six months of the passing of this Act.

 

(2)    

The review under sub-paragraph (1) must consider—

 

(a)    

the expected change in corporation and income tax paid attributable to

 

the provisions in this Schedule; and

 

(b)    

an estimate of any change, attributable to the provisions in this Schedule,

 

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

 

Commissioners and the amount paid.


 
 

Notices of Amendments: 4 June 2020                     

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Finance Bill, continued

 
 

(3)    

The review under subparagraph (2)(b) must consider taxes payable by the owners

 

and employees of Scottish Limited Partnerships.”

 

Member’s explanatory statement

 

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

 

finances, and on reducing the tax gap, of Clause 98 and Schedule 13, and in particular on the taxes

 

payable by owners and employees of Scottish Limited Partnerships.

 


 

Alison Thewliss

 

Patrick Grady

 

Owen Thompson

 

Stephen Flynn

 

Peter Grant

 

Alan Brown

 

NC13

 

To move the following Clause—

 

         

“Call-off stock arrangements: sectoral review of impact

 

(1)    

The Chancellor of the Exchequer must make an assessment of the impact of

 

section 78 on the sectors listed in (2) below and lay a report of that assessment

 

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

 

(2)    

The sectors to be assessed under (1) are—

 

(a)    

leisure,

 

(b)    

retail,

 

(c)    

hospitality,

 

(d)    

tourism,

 

(e)    

financial services,

 

(f)    

business services,

 

(g)    

health/life/medical services,

 

(h)    

haulage/logistics,

 

(i)    

aviation,

 

(j)    

transport,

 

(k)    

professional sport,

 

(l)    

oil and gas,

 

(m)    

universities, and

 

(n)    

fairs.”

 

Member’s explanatory statement

 

This new clause would require the Government to report on the effect of Clause 78 on a number

 

of business sectors.

 



 
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Revised 05 June 2020