House of Lords Amendments

Session 2013 - 14
Internet Publications
Other Bills before Parliament

Finance Bill
european convention on human rights
Lord Deighton has made the following statement under section 19(1)(a) of the Human Rights Act 1998:

In my view the provisions of the Finance Bill are compatible with the Convention rights.
AMENDMENTS
The following amendments should be read together with House of Commons Bill 18—I, 18—II and
18—III to which they relate. These amendments have been made by the House of Commons to that Bill.
After Clause 33
1
Insert the following new Clause—

“Transfer of deductions

Schedule (Transfer of deductions)—

(a)
inserts into CTA 2010 a new Part 14A (transfer of deductions), and

(b)
makes consequential provision.”
After Clause 69
2
Insert the following new Clause—

“Restrictions on buying capital allowances


Schedule (Restrictions on buying capital allowances) contains provision

amending Chapter 16A of Part 2 of CAA 2001 (restrictions on allowance

buying).”
Clause 175
3
Page 105, leave out lines 4 to 13 and insert—

“(3)
Condition A is that, at any time on or after 6 April 2013 and during the

period of 7 years ending with the date on which the election is made, the

person had a spouse or civil partner who was domiciled in the United

Kingdom.

2

(4)
Condition B is that a person (“the deceased”) dies and, at any time on or

after 6 April 2013 and within the period of 7 years ending with the date of

death, the deceased was—

(a)
domiciled in the United Kingdom, and

(b)
the spouse or civil partner of the person who would, by virtue of the

election, be treated as domiciled in the United Kingdom.”
4
Page 105, leave out lines 39 to 43
5
Page 106, line 4, leave out “spouse or civil partner’s” and insert “deceased’s”
6
Page 106, line 7, leave out from first “date” to end of line 19 and insert “if, on the

date—

(a)
in the case of a lifetime election—

(i)
the person making the election was married to, or in a civil

partnership with, the spouse or civil partner, and

(ii)
the spouse or civil partner was domiciled in the United

Kingdom, or

(b)
in the case of a death election—

(i)
the person who is, by virtue of the election, to be treated as

domiciled in the United Kingdom was married to, or in a

civil partnership with, the deceased, and

(ii)
the deceased was domiciled in the United Kingdom.”
7
Page 106, line 21, leave out “spouse or civil partner” and insert “deceased”
8
Page 106, line 27, leave out “or (4)(b)”
9
Page 106, line 41, leave out “a lifetime or death election” and insert “an election

under section 267ZA(1)”
After Clause 202
10
Insert the following new Clause—

“High quality liquid assets

(1)
In paragraph 70 of Schedule 19 to FA 2011 (bank levy: definitions), in sub-

paragraph (1), in the definition of “high quality liquid asset” for “section

12.7.2(1) to (4)” substitute “section 12.7 (assets that are eligible for inclusion

in a firm’s regulatory liquid assets buffer)’.

(2)
The amendment made by this section has effect in relation to chargeable

periods ending on or after 1 January 2011, and in relation to those

chargeable periods the amendment is to be treated as always having had

effect.”
After Clause 230
11
Insert the following new Clause—

“Restrictions on interim payments in proceedings relating to taxation matters

(1)
This section applies to an application for an interim remedy (however

described), made in any court proceedings relating to a taxation matter, if

the application is founded (wholly or in part) on a point of law which has

yet to be finally determined in the proceedings.

3

(2)
Any power of a court to grant an interim remedy (however described)

requiring the Commissioners for Her Majesty’s Revenue and Customs, or

an officer of Revenue and Customs, to pay any sum to any claimant

(however described) in the proceedings is restricted as follows.

(3)
The court may grant the interim remedy only if it is shown to the

satisfaction of the court—

(a)
that, taking account of all sources of funding (including borrowing)

reasonably likely to be available to fund the proceedings, the

payment of the sum is necessary to enable the proceedings to

continue, or

(b)
that the circumstances of the claimant are exceptional and such that

the granting of the remedy is necessary in the interests of justice.

(4)
The powers restricted by this section include (for example)—

(a)
powers under rule 25 of the Civil Procedure Rules 1998 (S.I. 1998/

3132);

(b)
powers under Part II of Rule 29 of the Rules of the Court of

Judicature (Northern Ireland) (Revision) 1980 (S.R. 1980 No.346).

(5)
This section applies in relation to proceedings whenever commenced, but

only in relation to applications made in those proceedings on or after 26

June 2013.

(6)
This section applies on and after 26 June 2013.

(7)
Subsection (8) applies where, on or after 26 June 2013 but before the passing

of this Act, an interim remedy was granted by a court using a power which,

because of subsection (6), is to be taken to have been restricted by this

section.

(8)
Unless it is shown to the satisfaction of the court that paragraph (a) or (b)

of subsection (3) applied at the time the interim remedy was granted, the

court must, on an application made to it under this subsection—

(a)
revoke or modify the interim remedy so as to secure compliance

with this section, and

(b)
if the Commissioners have, or an officer of Revenue and Customs

has, paid any sum as originally required by the interim remedy,

order the repayment of the sum or any part of the sum as

appropriate (with interest from the date of payment).

(9)
For the purposes of this section, proceedings on appeal are to be treated as

part of the original proceedings from which the appeal lies.

(10)
In this section “taxation matter” means anything, other than national

insurance contributions, the collection and management of which is the

responsibility of the Commissioners for Her Majesty’s Revenue and

Customs (or was the responsibility of the Commissioners of Inland

Revenue or Commissioners of Customs and Excise).”
Schedule 2
12
Page 144, line 34, at end insert—

“(10A)
For the purposes of subsection (10) it does not matter if the

general offer is made to different shareholders by different

means.”

4
13
Page 144, line 45, after ““(7)” insert—


“For the purposes of sub-paragraph (5) it does not matter if the

general offer is made to different shareholders by different

means.

      (8)
”
14
Page 146, line 20, at end insert—

“(3DA)
In subsection (3D)(a) the reference to the issued ordinary share

capital of the relevant company does not include any capital

already held by the person making the offer or a person

connected with that person and in subsection (3D)(b) the

reference to the shares in the relevant company does not include

any shares already held by the person making the offer or a

person connected with that person.

(3DB)
For the purposes of subsection (3D)(a) and (b) it does not matter

if the general offer is made to different shareholders by different

means.”
15
Page 147, line 16, at end insert—

  “(1A)
After sub-paragraph (3) insert—

“(3A)
In sub-paragraph (3)(a) the reference to the issued ordinary

share capital of the company does not include any capital

already held by the person making the offer or a person

connected with that person and in sub-paragraph (3)(b) the

reference to the shares in the company does not include any

shares already held by the person making the offer or a person

connected with that person.

    (3B)
For the purposes of sub-paragraph (3)(a) and (b) it does not

matter if the general offer is made to different shareholders by

different means.”

    (1B)
A SAYE option scheme approved before the day on which this Act is

passed which contains provision under paragraph 37(1) of Schedule 3 to

ITEPA 2003 by reference to paragraph 37(2) has effect with any

modifications needed to reflect the amendment made by sub-paragraph

(1A).”
16
Page 147, line 37, leave out sub-paragraph (1) and insert—

    “(1)
In Part 7 of Schedule 3 (exercise of share options) paragraph 38

(exchange of options on company reorganisation) is amended as follows.

    (1A)
In sub-paragraph (2)(c)—

(a)
after “982” insert “or 983 to 985”, and

(b)
after “shareholder” insert “etc”.

    (1B)
After sub-paragraph (2) insert—

“(2A)
In sub-paragraph (2)(a)(i) the reference to the issued ordinary

share capital of the scheme company does not include any

capital already held by the person making the offer or a person

connected with that person and in sub-paragraph (2)(a)(ii) the

reference to the shares in the scheme company does not

5

include any shares already held by the person making the offer

or a person connected with that person.

    (2B)
For the purposes of sub-paragraph (2)(a)(i) and (ii) it does not

matter if the general offer is made to different shareholders by

different means.””
17
Page 149, line 34, at end insert—

“(2HA)
In subsection (2H)(a) the reference to the issued ordinary share

capital of the relevant company does not include any capital

already held by the person making the offer or a person

connected with that person and in subsection (2H)(b) the

reference to the shares in the relevant company does not include

any shares already held by the person making the offer or a

person connected with that person.

(2HB)
For the purposes of subsection (2H)(a) and (b) it does not matter

if the general offer is made to different shareholders by different

means.”
18
Page 150, line 31, at end insert—

“(3A)
In sub-paragraph (3)(a) the reference to the issued ordinary

share capital of the company does not include any capital

already held by the person making the offer or a person

connected with that person and in sub-paragraph (3)(b) the

reference to the shares in the company does not include any

shares already held by the person making the offer or a person

connected with that person.

    (3B)
For the purposes of sub-paragraph (3)(a) and (b) it does not

matter if the general offer is made to different shareholders by

different means.”
19
Page 151, line 6, leave out sub-paragraph (1) and insert—

    “(1)
In Part 6 of Schedule 4 (exercise of share options) paragraph 26

(exchange of options on company reorganisation) is amended as follows.

    (1A)
In sub-paragraph (2)(c)—

(a)
after “982” insert “or 983 to 985”, and

(b)
after “shareholder” insert “etc”.

    (1B)
After sub-paragraph (2) insert—

“(2A)
In sub-paragraph (2)(a)(i) the reference to the issued ordinary

share capital of the scheme company does not include any

capital already held by the person making the offer or a person

connected with that person and in sub-paragraph (2)(a)(ii) the

reference to the shares in the scheme company does not

include any shares already held by the person making the offer

or a person connected with that person.

    (2B)
For the purposes of sub-paragraph (2)(a)(i) and (ii) it does not

matter if the general offer is made to different shareholders by

different means.””
20
Page 151, line 13, at end insert—

6

“Enterprise management incentives

30A(1)
In Part 6 of Schedule 5 (company reorganisations) in paragraph 39

(introduction) after sub-paragraph (3) insert—

  “(4)
In sub-paragraph (2)(a)(i) the reference to the issued share

capital of the company does not include any capital already

held by the person making the offer or a person connected

with that person and in sub-paragraph (2)(a)(ii) the reference

to the shares in the company does not include any shares

already held by the person making the offer or a person

connected with that person.

      (5)
For the purposes of sub-paragraph (2)(a)(i) and (ii) it does not

matter if the general offer is made to different shareholders by

different means.”

      (2)
The amendment made by this paragraph comes into force on such day

as the Treasury may by order appoint.”
Schedule 9
21
Page 205, line 7, after “(g)” insert “or (4A)”
22
Page 206, line 32, after “(g)” insert “or (4A)”
23
Page 213, line 25, at end insert—

“(4A)
The Commissioners for Her Majesty’s Revenue and Customs

may by regulations provide that sub-paragraph (2) does not

apply if prescribed conditions are met in relation to the

assignment.


“Prescribed” means prescribed by the regulations.

    (4B)
Regulations under sub-paragraph (4A) may—

(a)
make different provision for different cases or

circumstances, and

(b)
contain incidental, supplementary, consequential,

transitional, transitory or saving provision.”
24
Page 213, line 27, after “(3)” insert “or (4A)”
25
Page 213, line 48, after “(g)” insert ‘or (4A)”
26
Page 214, line 33, at end insert—

“(6A)
The Commissioners for Her Majesty’s Revenue and Customs

may by regulations provide that an individual is not required

to comply with sub-paragraph (2) if prescribed conditions are

met.


“Prescribed” means prescribed by the regulations.

    (6B)
Accordingly, if by virtue of regulations under sub-paragraph

(6A) an individual is not required to comply with sub-

paragraph (2), sub-paragraph (3) does not apply because that

individual does not comply with sub-paragraph (2).”
27
Page 214, line 42, leave out “Finance Act 2013 is passed” and insert “first

regulations under paragraph (c) below come into force”



© Parliamentary copyright	Revised 4 July 2013