|
S.C.H.
Amendment Paper as at
Tuesday 23rd May 2000
STANDING COMMITTEE H
New Amendments handed in are marked thus *
FINANCE BILL
(Except Clauses 1, 12, 30, 31, 59, 102 and 113)
NOTE
The Amendments have been arranged in accordance with the Order of the Committee [4th May] as follows:
Clauses 2 to 6, Schedule 1, Clauses 7 to 11, Clauses 13 to 15, Clause 28, Clauses 16 and 17, Schedule 2, Clauses 18 to 22, Schedule 3, Clause 23, Schedule 4, Clause 24, Schedule 5, Clauses 25 to 27, Clause 29, Schedules 6 and 7, Clauses 32 to 47, Schedule 8, Clause 48, Schedule 9, Clauses 49 to 55, Clause 134, Clause 56, Schedule 10, Clauses 57 and 58, Schedule 11, Schedule 12, Clause 60, Schedule 13, Clause 61, Schedule 14, Clause 62, Schedules 15 and 16, Clause 63, Schedule 17, Clause 64, Schedule 18, Clauses 65 to 67, Schedule 19, Clause 68, Schedules 20 and 21, Clauses 69 to 81, Schedule 22, Clauses 82 to 86, Schedule 23, Clauses 87 to 90, Schedule 24, Clause 91, Schedules 25 and 26, Clauses 92 to 96, Schedule 27, Clause 97, Schedule 28, Clauses 98 to 101, Schedule 29, Schedule 30, Clause 103, Schedule 31, Clauses 104 to 112, Clauses 114 and 115, Schedule 32, Clause 116, Schedule 33, Clauses 117 to 127, Schedule 34, Clauses 128 to 131, Schedule 35, Clause 132, Schedule 36, Clause 133, Clauses 135 to 138, Schedule 37, Clause 139, Schedule 38, Clauses 140 to 144, Schedule 39, Clauses 145 to 149, New Clauses, New Schedules, Clauses 150 and 151, Schedule 40, Clause 152.
Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight
11
Clause 34, page 21, line 10, leave out subsection (2) and insert—
'(2) In section 257AA(5) of the Taxes Act 1988 (which specifies the year in which the children's tax credit is to start) for "2001-02" substitute "2000-01".
(3) In section 257AA(6) of the Taxes Act 1988 for "2002-03" substitute "2001-02".
(4) This section has effect for the year 2000-01 and subsequent years of assessment.'.
Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Edward Davey
Mr Andrew Stunell
Mr John Burnett
65
Clause 34, page 21, line 10, leave out subsection (2) and insert—
'(2) In section 30(5) of the Finance Act 1999 (which specifies the year in which the children's tax credit is to start) for "2001-02" substitute "2000-01".
(3) In section 30(6) of the Finance Act 1999 for "2002-03" substitute "2001-02".
(4) This section has effect for the year 2000-01 and subsequent years of assessement.'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
53
Clause 38, page 22, line 47, at end insert—
'(aa) in subsection (2), after "withheld" there shall be inserted "and the sums shall be deducted from a person's earnings for the purpose of any calculation or estimation of those earnings for the purposes of the Social Security Contributions and Benefits Act 1992".'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
50
Clause 39, page 23, line 19, after 'gift', insert 'and the amount to be taken into account for the purposes of this paragraph in relation to the gift does not exceed £250'.
Mr Edward Davey
Mr Andrew Stunell
Mr John Burnett
Norman Baker
130
Clause 39, page 24, line 4, at end insert—
'(d) exclude donations from non-taxpayers from requirements for record keeping by both donors and charities.'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
80
Clause 39, page 24, line 10, leave out '£25' and insert '£40'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
81
Clause 39, page 24, line 11, leave out '2.5' and insert '4'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
51
Clause 39, page 25, line 9, leave out '(9)' and insert '(10)'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
49
Clause 39, page 25, line 37, after 'exceeds', insert 'by more than £100'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
52
Clause 39, page 26, line 32, at end insert—
'(10) The receipt by a charity of a gift which is a qualifying donation or which is otherwise the payment of a sum of money by an individual shall be treated for the purposes of the Tax Acts, in their application to the charity, as the receipt, under deduction of income tax at the basic rate of the relevant year of assessment, of an annual payment of an amount equal to the grossed up amount of the gift.'.
Mr Andrew Smith
128
Clause 40, page 27, line 7, at end insert '(within the meaning of the Management Act)'.
Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Oliver Letwin [R]
Mr Howard Flight [R]
108
Clause 40, page 27, line 8, leave out 'section' and insert 'sections 209(2)(b) and'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
48
Clause 40, page 27, line 10, after '(3F)', insert '(3G)'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
46
Clause 40, page 27, line 13, after '339(3)', insert 'or the amount to be taken into account for the purposes of this paragraph in relation to the payments exceeds £250'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
47
Clause 40, page 27, line 14, at end insert 'and the word "either" shall be omitted.'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
82
Clause 40, page 27, line 20, leave out '£25' and insert '£40'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
83
Clause 40, page 27, line 21, leave out '2.5' and insert '4'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
45
Clause 40, page 28, line 10, after 'payment', insert—
'(4A) A gift for the purposes of this subsection including in the case of a close company any payment that is a qualifying donation and in the case of a non-close company any payment in consequence of which that company or a connected person receives a benefit for the relevant value of which does not exceed the limits described in subsections (3DA) to (3DD) above.'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
42
Clause 43, page 30, line 6, after 'disposes', insert 'subject to subsection (1A)'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
43
Clause 43, page 30, line 7, at end insert—
'(1A) Notwithstanding reference in subsection (1) to the disposal of the whole of the beneficial interest in a qualifying investment, an individual making a disposal of a qualifying investment to which subsection (1) applies may by means of a trust, contract or otherwise reserve for the individual's lifetime and the lifetime of his or her spouse the right to receive all or part of the income generated by that qualifying investment and for this purpose require the retention of that qualifying investment by the charity.
(1B) The reservation of the right described in subsection (1A) shall be disregarded for the purposes of section 257 Taxation of Chargeable Gains Act 1992, sections 23(3) and 23(4) of the Inheritance Tax Act 1984 and section 102 of the Finance Act 1986.'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
44
Clause 43, page 31, line 32, at end insert—
'"benefit" excludes any benefit reserved by an individual of the type described in sub-section (1A);'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
41
Clause 43, page 31, line 47, leave out from 'securities' to end of line 48 and insert 'of a company'.
Mr Andrew Smith
129
Clause 43, page 32, line 10, leave out '272(4)' and insert '272(5)'.
Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Oliver Letwin
Mr Howard Flight
71
Clause 43, page 32, line 19, at end insert—
'(2A) In Part I of Schedule 20 of that Act (qualifying investments), immediately after paragraph 3A there shall be inserted—
"3B any 'qualifying investment' as defined in section 83B.".'.
Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Oliver Letwin [R]
Mr Howard Flight [R]
109
Clause 45, page 33, line 15, after '1A' insert 'and 1B'
|
