Vote Bundle Text (910501-02)

Amendments proposed to the Finance Bill - continued	House of Commons

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Mr James Clappison
Mr Howard Flight
Mr Peter Luff

Schedule 14, page 150, line 4, leave out from 'option),' to end of line 6 and insert 'for paragraph (b) substitute—

"(b) at the time of the release of rights under the old option, the requirements of paragraph 9 (purpose of granting the option) are met in relation to the new option;".'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 15, page 152, line 11, at end insert—

'(3) In subsection (6A) of section 293 (value of relevant assets), in paragraph (a) for "£15 million" substitute "£20 million", and in paragraph (b) for "£16 million" substitute "£25 million".'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 15, page 152, line 22, at end insert—

'Indexation of amounts

.—(1) If the retail prices index for the month of September preceding a year of assessment is higher than it was for the previous September, then, unless Parliament otherwise determines, section 290, subsection (6A) of section 293 and subsection (2)(a) of section 301A shall apply for that year as if each amount specified in them as they applied for the previous year (whether by virtue of this paragraph or otherwise) there were substituted an amount arrived at by increasing the amount for the previous year by the same percentage as the percentage increase in the retail prices index, and—

(a) if in the case of an amount specified in subsection (1) of section 290 the result is not a multiple of £10, rounding it up to the nearest amount which is such a multiple;

(b) if in the case of an amount specified in subsection (2)(a) of section 301A the result is not a multiple of £100, rounding it up to the nearest amount which is such a multiple;

(c) if in the case of the amount specified in subsection (2) of section 290 the result is not a multiple of £10,000, rounding it up to the nearest amount which is such a multiple;

(d) if in the case of the amounts specified in subsection (6A) of section 293 the result is not a multiple of £100,000, rounding it up to the nearest amount which is such a multiple.

(2) The Treasury shall in each year of assessment make an order specifying the amounts which by virture of sub-paragraph (1) above will be treated as specified for the following year of assessment in section 290 and subsection (6A) of section 293.'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 15, page 152, line 28, at end insert—

'Qualifying trades

.—(1) In subsection (2) of section 297 (qualifying trades), following "a substantial part of the trade" substitute:

"(a) advertising and publicising the policies of Her Majesty's Government;

(b) the conduct of surveys or polls as to the opinions of members of the public (or any section of them) on any subject (whether by interview in person or by telephone or through the medium of a group discussion focussed upon any particular subject);

(d) consultancy as to the arrangement of objects or artefacts within any living space (where based upon the principles of any non-European philosophy);

(e) fashion modelling (the provision of individuals engaged wholly or mainly for the purpose of displaying, whether or not to the public, items of clothing); and

(f) the publication of newspapers (including magazines or other periodicals, but not journals of a technical or scientific nature).".

(2) Leave out subsections (3) to (9) inclusive of section 297 and subsections (5) to (5C) inclusive of section 298.'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 15, page 156, line 35, at end insert '(and for these purposes an amount is insignificant in relation to the amount subscribed by an individual if it does not exceed 5 per cent. of the amount subscribed by them)'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 16, page 169, line 20, after '(a)', insert 'at least'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 16, page 170, line 11, at end insert—

'Excluded activities

(1) In sub-paragraph (1) of paragraph 26 (excluded activities), following "excluded activities" substitute:

"(a) advertising and publicising the policies of Her Majesty's Government;

(d) consultancy as to the arrangement of objects or artefacts within any living space (where based upon the principles of any non-European philosophy);

(e) fashion modelling (the provision of individuals engaged wholly or mainly for the purpose of displaying, whether or not to the public, items of clothing); and

(f) the publication of newspapers (including magazines or other periodicals, but not journals of a technical or scientific nature).".

(2) Leave out sub-paragraph (2) of paragraph 26 and paragraphs 27 to 33 inclusive.'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 16, page 170, line 11, at end insert—

'The gross assets requirement

In sub-paragraph (1)(a) and sub-paragraph (2)(a) of paragraph 22 (gross assets requirement), for each reference to "£15 million" substitute "£20 million", and in sub-paragraph (1)(b) and sub-paragraph (2)(b) of that paragraph for each reference to "£16 million" substitute "£25 million".'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 16, page 170, line 11, at end insert—

'Indexation of amounts

.—(1) If the retail prices index for the month of September preceding a year of assessment is higher than it was for the previous September, then, unless Parliament otherwise determines, paragraph 22 (gross assets requirement) shall apply for that year as if each amount specified in that paragraph as they applied for the previous year (whether by virtue of this paragraph or otherwise) there were substituted an amount arrived at by increasing the amount for the previous year by the same percentage as the percentage increase in the retail prices index, and if the result is not a multiple of £100,000 rounding it up to the nearest amount which is such a multiple.

(2) The Treasury shall in each year of assessment make an order specifying the amounts which by virtue of sub-paragraph (1) above will be treated as specified for the following year of assessment in paragraph 22.'.

Mr Andrew Smith

Schedule 16, page 172, leave out lines 3 and 4 and insert—

'(5) For sub-paragraph (4) of that paragraph (calculation of amounts of original and replacement value) substitute—

"(4) For the purposes of this paragraph, the amount of the replacement value is—'.

Mr James Clappison
Mr Howard Flight [R]
Mr Peter Luff

Schedule 16, page 172, line 5, at beginning insert 'the amount of the replacement value is—'.

Mr Andrew Smith

Schedule 20, page 194, line 8, at end insert—

'(2) In section 57(2) of the Capital Allowances Act 2001 (available qualifying expenditure in pool includes amounts allocated to pool under specified provisions), before the entry for section 165(3) insert—

"section 161C(2) (decommissioning expenditure incurred by person carrying on trade of oil extraction);".'.

Mr Richard Ottaway
Mr Howard Flight
Mr James Clappison

*Schedule 21, page 197, line 32, at end add—

'Cars above the cost threshold: single asset pool
Section 74 of the Capital Allowance Act 2001 is amended, by inserting at the end of subsection (2)(b) the words "; and this figure shall be adjusted annually to take account of any movement in the Retail Price Index.".'.

Mr Richard Ottaway
Mr James Clappison
Mr Howard Flight
Mr Peter Luff

Page 52, line 17, leave out Clause 79.

NEW CLAUSES

Application of definitions of private residences and job-related accommodation

Mr Oliver Letwin
Mr Richard Ottaway
Mr James Clappison
Mr Howard Flight
Mr Peter Luff

NC1

To move the following Clause:—

'Sections 222(1), (8) and (8A) of the Taxation of Chargeable Gains Act 1992 (which define private residence and job-related accommodation for the purposes of relief) shall be applied by the Inland Revenue in the exercise of all of its functions.'.

VAT: exceptional circumstances rapid refunds

Mr Oliver Letwin
Mr Richard Ottaway
Mr James Clappison
Mr Howard Flight
Mr Peter Luff

NC2

To move the following Clause:—

'.—(1) This section applies to any business which—

(a) has been significantly affected, directly or indirectly, by the incidence of foot and mouth disease, and

(b) is, or is likely to be, entitled to a refund of input VAT in respect of its trading in the year 2001-02.

(2) The Commissioners of Customs and Excise shall, if satisfied on the basis of a claim made in that behalf that a business is one to which this section applies, make an immediate refund on account of input VAT (to be known as an Exceptional Circumstances Rapid Refund).

(3) The amount of refund made under subsection (2) shall be—

(a) in the case of a business which was registered for VAT on or before 5th April 1998, one twenty-fourth of the input VAT paid by the business in financial years 1998-99 and 1999-2000;

(b) in the case of a business which was registered for VAT later than 5th April 1998, an amount calculated in accordance with directions to be given by the Treasury.

(4) Where a refund paid on account under this section is more than the refund actually due, the Commissioners shall recoup the balance at the conclusion of financial year 2001-02.

(5) The Treasury may by order substitute, for "the conclusion of financial year 2001-02" in subsection (4), "the conclusion of financial year 2002-03".'.