| Amendments proposed to the Finance Bill - continued | House of Commons |
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Mr Michael Howard 30 Schedule 10, page 179, line 30, at end insert—
'Conditions for shares to qualify as business assets (2) In sub-paragraph (2) for "if at that time" substitute "if at the time it was acquired". (3) In sub-paragraph (3) for "if at that time" substitute "if at the time it was acquired". (4) In sub-paragraph (4) for "if at that time" substitute "if at the time it was acquired".'.
Mr Michael Howard 31 Schedule 10, page 181, line 16, leave out 'means' and insert 'includes'.
Mr Michael Howard 11 Clause 47, page 32, line 19, leave out '"disregarding section 3(1)"' and insert '"disregarding sections 2A (taper relief) and 3(1) (annual exempts amount)".'.
Mr Michael Howard 12 Clause 47, page 32, line 19, leave out from 'relief)' to end of line 21 and insert 'for "disregarding section 3(1) of the Taxation of Chargeable Gains Act 1992 and the effect of this section" substitute "disregarding the effect of this section and either 2A (taper relief) or section 3(1) (annual exempt amount) of the Taxation of Chargeable Gains Act 1992 as the person elects for the year of assessment in question.".'.
Mr Michael Howard 36 *Page 33, line 7, leave out Clause 48.
Mr Michael Howard 22 Clause 49, page 34, line 15, leave out 'on same day' and insert 'by employees'.
Mr Michael Howard 23 Clause 49, page 34, line 17, leave out 'on the same day and in the same capacity' and insert 'in circumstances in which those shares qualify as business assets for the purposes of section 2A by virtue of paragraph 4(2) of Schedule A1'.
Mr Michael Howard 24 Clause 49, page 34, line 17, leave out 'on the same day' and insert 'during any thirty-day period.'.
Mr Michael Howard 21 Clause 49, page 34, line 24, leave out from 'where' to ', or' on line 26 and insert 'paragraphs 44, 45 or 46 of that Schedule (no charge to income tax on exercise of a qualifying option) apply'.
Mr Michael Howard 25 Schedule 12, page 189, line 9, after 'enterprise', insert 'or a small or medium-sized enterprise which makes an election pursuant to paragraph 16A below'.
Mr Michael Howard 26 Schedule 12, page 194, line 35, at end insert—
'Regulatory simplification 16A. (1) In respect of any financial year any small or medium-sized enterprise may elect to forego the reliefs available to it under Schedule 20 to the Finance Act 2000 (tax relief for expenditure on research and development) and instead claim relief under this Schedule as if it were a large enterprise. (2) Any election pursuant to this paragraph must be made in writing to the Inspector of Taxes prior to the end of the financial year in question.'.
Mr Michael Howard 4 Page 37, line 37, leave out Clause 53.
Mr Michael Howard 5 Schedule 13, page 207, leave out lines 18 to 20 and insert—'(1) This Schedule applies to expenditure incurred on or after 1st April 2002.'.
Mr Michael Howard 6 Schedule 14, page 209, line 38, leave out from 'after' to end of line 39 and insert '1st April 2002'.
Mr Michael Howard 13 Page 38, line 1, leave out Clause 54.
Mr Michael Howard 28 Clause 56, page 38, leave out from beginning of line 39 to end of line 9 on page 39 and add—'(3) Schedules 16 and 17 shall come into force on 1st April 2002. (4) For the purposes of subsection (3), Schedule 16 shall have effect in relation to—
Mr Michael Howard 27 Page 39, line 10, leave out Clause 57.
Mr Mark Hoban 41 *Schedule 18, page 240, line 28, leave out from beginning to 'and'.
Mr Mark Hoban 42 *Schedule 18, page 241, line 1, leave out from beginning to 'and' in line 2.
Mr Mark Hoban 43 *Schedule 18, page 241, line 24, leave out from beginning to 'and'.
Mr Mark Hoban 44 *Schedule 18, page 242, line 7, leave out 'income and'.
Mr Mark Hoban 45 *Schedule 18, page 242, line 11, leave out from 'is' to 'the' in line 14.
Mr Mark Hoban 46 *Schedule 18, page 242, line 17, leave out 'income and'.
Mr Mark Hoban 47 *Schedule 18, page 242, line 19, leave out 'income and'.
Mr Mark Hoban 48 *Schedule 18, page 242, line 22, leave out 'income and'.
Mr Mark Hoban 49 *Schedule 18, page 242, line 41, leave out 'income and'.
Mr Mark Hoban 50 *Schedule 18, page 242, line 42, leave out 'income and'.
Mr Mark Hoban 51 *Schedule 18, page 243, line 3, leave out 'income and'.
Mr Michael Howard 18 Schedule 19, page 246, line 19, at end insert—
Mr Michael Howard 19 Clause 59, page 39, line 31, at end insert 'or
Mr Michael Howard 20 Schedule 20, page 249, line 29, at end insert—
Mr Michael Howard 17 Clause 61, page 40, leave out lines 14 and 15 and insert—'(5) General exclusion 6 shall not apply to expenditure incurred on or after 17th April 2002.'.
NEW CLAUSESTax relief for expenditure on vaccine research etc (No. 2)
Mr Michael Howard NC1 To move the following Clause:—'.—(1) Grants of up to £15m per annum may be awarded by order of the Secretary of State for qualifying research and development. (2) For the purposes of subsection (1), qualifying research and development means research and development relating to vaccines or medicines for use in humans—
(4) This section has effect from 1st April 2002.'.
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