Finance Bill (HL Bill 123)

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[The Speaker of the House of Commons has certified this Bill as a Money Bill within the meaning of the Parliament Act 1911.]

EUROPEAN CONVENTION ON HUMAN RIGHTS

Lord Agnew of Oulton 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.

Contents

  1. Part 1

    Income tax, corporation tax and capital gains tax

    1. Income tax charge, rates etc

      1. 1.Income tax charge for tax year 2020-21

      2. 2.Main rates of income tax for tax year 2020-21

      3. 3.Default and savings rates of income tax for tax year 2020-21

      4. 4.Starting rate limit for savings for tax year 2020-21

    2. Corporation tax charge and rates

      1. 5.Main rate of corporation tax for financial year 2020

      2. 6.Corporation tax: charge and main rate for financial year 2021

    3. Employment income and social security income

      1. 7.Workers’ services provided through intermediaries

      2. 8.Determining the appropriate percentage for a car: tax year 2020-21 onwards

      3. 9.Determining the appropriate percentage for a car: tax year 2020-21 only

      4. 10.Determining the appropriate percentage for a car: tax year 2021-22 only

      5. 11.Apprenticeship bursaries paid to persons leaving local authority care

      6. 12.Tax treatment of certain Scottish social security benefits

      7. 13.Power to exempt social security benefits from income tax

      8. 14.Voluntary office-holders: payments in respect of expenses

    4. Loan charge

      1. 15.Loan charge not to apply to loans or quasi-loans made before 9 December 2010

      2. 16.Election for loan charge to be split over three tax years

      3. 17.Loan charge reduced where underlying liability disclosed but unenforceable

      4. 18.Relief from interest on tax payable by a person subject to the loan charge

      5. 19.Minor amendments relating to the loan charge

      6. 20.Repaying sums paid to HMRC under agreements relating to certain loans etc

      7. 21.Operation of the scheme

    5. Pensions

      1. 22.Annual allowance: tapered reduction

    6. Chargeable gains

      1. 23.Entrepreneurs’ relief

      2. 24.Relief on disposal of private residence

      3. 25.Corporate capital losses

      4. 26.Quarterly instalment payments

      5. 27.Relief from CGT for loans to traders

    7. Reliefs for business

      1. 28.Research and development expenditure credit

      2. 29.Structures and buildings allowances: rate of relief

      3. 30.Structures and buildings allowances: miscellaneous amendments

      4. 31.Intangible fixed assets: pre-FA 2002 assets etc

    8. Miscellaneous measures affecting companies

      1. 32.Non-UK resident companies carrying on UK property businesses etc

      2. 33.Surcharge on banking companies: transferred-in losses

      3. 34.CT payment plans for tax on certain transactions with EEA residents

      4. 35.Changes to accounting standards affecting leases

    9. Investments

      1. 36.Enterprise investment scheme: approved investment fund as nominee

      2. 37.Gains from contracts for life insurance etc: top slicing relief

      3. 38.Losses on disposal of shares: abolition of requirement to be UK business

  2. Part 2

    Digital services tax

    1. Introduction

      1. 39.Digital services tax: introduction

    2. Digital services revenues, UK digital services revenues etc

      1. 40.Meaning of “digital services revenues”

      2. 41.Meaning of “UK digital services revenues”

      3. 42.UK digital services revenues: accommodation and land

      4. 43.Meaning of “digital services activity” etc

      5. 44.Meaning of “user” and “UK user”

      6. 45.Exclusion for online financial marketplaces

    3. Charge to tax

      1. 46.Meaning of “the threshold conditions”

      2. 47.Charge to DST

      3. 48.Alternative basis of charge

      4. 49.Section : meaning of “relevant operating expenses”

      5. 50.Relief for certain cross-border transactions

      6. 51.When DST is due and payable

    4. Duty to submit returns etc

      1. 52.Meaning of “the responsible member”

      2. 53.Continuity of obligations etc where change in the responsible member

      3. 54.Duty to notify HMRC when threshold conditions are met

      4. 55.Duty to notify HMRC of change in relevant information

      5. 56.Duty to file returns

    5. Groups, parents and members

      1. 57.Meaning of “group”, “parent” etc

      2. 58.Section : meaning of “relevant entity”

      3. 59.Continuity of a group over time

      4. 60.Treatment of stapled entities

    6. Accounting periods, accounts etc

      1. 61.Accounting periods and meaning of “a group’s accounts”

      2. 62.Apportionment of revenues or expenses to accounting period

      3. 63.Meaning of revenues arising, or expenses recognised, in a period

      4. 64.Meaning of “the applicable accounting standards” etc

    7. Supplementary

      1. 65.Anti-avoidance

      2. 66.Notice requiring payment from other group members

      3. 67.Interest on overdue DST

      4. 68.Interest on overpaid DST etc

      5. 69.Recovery of DST liability

      6. 70.Minor and consequential amendments

      7. 71.Review of DST

    8. General

      1. 72.Interpretation of Part

  3. Part 3

    Other taxes

    1. Inheritance tax

      1. 73.Excluded property etc

      2. 74.Transfers between settlements etc

      3. 75.Relief for payments to victims of persecution during Second World War era

    2. Stamp duty land tax

      1. 76.Exceptional circumstances preventing disposal of interest in three year period

    3. Stamp duty and stamp duty reserve tax

      1. 77.Stamp duty: transfers of unlisted securities and connected persons

      2. 78.SDRT: unlisted securities and connected persons

      3. 79.Stamp duty: acquisition of target company’s share capital

    4. Value added tax

      1. 80.Call-off stock arrangements

    5. Alcohol liquor duties

      1. 81.Post-duty point dilution of wine or made-wine

    6. Tobacco products duty

      1. 82.Rates of tobacco products duty

    7. Vehicle taxes

      1. 83.Rates for light passenger or light goods vehicles, motorcycles etc

      2. 84.Applicable CO2 emissions figure determined using WLTP values

      3. 85.Electric vehicles: extension of exemption

      4. 86.Motor caravans

      5. 87.Exemption in respect of medical courier vehicles

      6. 88.HGV road user levy

    8. Hydrocarbon oil duties

      1. 89.Rebated fuel: private pleasure craft

    9. Air passenger duty

      1. 90.Rates of air passenger duty from 1 April 2021

    10. Gaming duty

      1. 91.Amounts of gross gaming yield charged to gaming duty

    11. Environmental taxes

      1. 92.Rates of climate change levy until 1 April 2021

      2. 93.Rates of climate change levy from 1 April 2021

      3. 94.Rates of landfill tax

      4. 95.Carbon emissions tax

      5. 96.Charge for allocating allowances under emissions reduction trading scheme

    12. Import duty

      1. 97.International trade disputes

  4. Part 4

    Miscellaneous and final

    1. Insolvency

      1. 98.HMRC debts: priority on insolvency

      2. 99.HMRC debts: regulations

    2. Joint and several liability

      1. 100.Joint and several liability of company directors etc

    3. General anti-abuse rule

      1. 101.Amendments relating to the operation of the GAAR

    4. Compensation schemes etc

      1. 102.Tax relief for scheme payments etc

    5. Administration

      1. 103.HMRC: exercise of officer functions

      2. 104.Returns relating to LLP not carrying on business etc with view to profit

      3. 105.Interest on unpaid tax in case of disaster etc of national significance

    6. Coronavirus

      1. 106.Taxation of coronavirus support payments

      2. 107.Enterprise management incentives: disqualifying events

      3. 108.Protected pension age of members re-employed as a result of coronavirus

      4. 109.Modifications of the statutory residence test in connection with coronavirus

      5. 110.Future Fund: EIS and SEIS relief

    7. Preparing for new tax

      1. 111.Preparing for a new tax in respect of certain plastic packaging

    8. Local loans

      1. 112.Limits on local loans

    9. Other

      1. 113.Interpretation

      2. 114.Short title

    1. Schedule 1

      Workers’ services provided through intermediaries

      1. Part 1

        Amendments to Chapter 8 of Part 2 of ITEPA 2003

      2. Part 2

        Amendments to Chapter 10 of Part 2 of ITEPA 2003

      3. Part 3

        Consequential and miscellaneous amendments

      4. Part 4

        Commencement and transitional provisions

    2. Schedule 2

      The loan charge: consequential amendments

      1. Part 1

        Amendments to F(No.2)A 2017 in consequence of section 15

      2. Part 2

        Amendments in consequence of section 16

    3. Schedule 3

      Entrepreneurs’ relief

      1. Part 1

        Reduction in lifetime limit

      2. Part 2

        Re-naming the relief

    4. Schedule 4

      Corporate capital losses

      1. Part 1

        Corporate capital loss restriction

      2. Part 2

        Corporate capital loss deductions: miscellaneous provision

      3. Part 3

        Commencement and anti-forestalling provision

    5. Schedule 5

      Structures and buildings allowances

    6. Schedule 6

      Non-UK resident companies carrying on UK property businesses etc

    7. Schedule 7

      CT payment plans for tax on certain transactions with EEA residents

    8. Schedule 8

      Digital services tax: returns, enquiries, assessments and appeals

      1. Part 1

        Introduction

      2. Part 2

        DST returns

      3. Part 3

        Duty to keep and preserve records

      4. Part 4

        Enquiry into return

      5. Part 5

        HMRC determinations

      6. Part 6

        HMRC assessments

      7. Part 7

        Relief in case of overpaid tax

      8. Part 8

        Appeals against HMRC decisions on tax

      9. Part 9

        Penalties

    9. Schedule 9

      DST payment notices

    10. Schedule 10

      Digital services tax: minor and consequential amendments

    11. Schedule 11

      Private pleasure craft

    12. Schedule 12

      Carbon emissions tax

    13. Schedule 13

      Joint and several liability of company directors etc

    14. Schedule 14

      Amendments relating to the operation of the GAAR

    15. Schedule 15

      Tax relief for scheme payments etc

    16. Schedule 16

      Taxation of coronavirus support payments

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