Simplifying married couple's allowances
Mr Charles Kennedy
Mr Matthew Taylor
Mr Edward Davey
Mr John Burnett
Dr John Pugh
Mr Andrew Stunell
NC24
*To move the following Clause:—
'(1) Section 257A of the Taxes Act 1988 shall be amended as follows—
(2) In subsection (2) the amount specified for the year 2002-03 shall be £5,535.
(3) Omit subsections (3) and (4).
(4) In subsection (6), after the words "entitled to relief under this section", delete from "this section shall have effect" to the end of the subsection, and insert—
"he shall be entitled to the relief under this section as if he had been married throughout the year of assessment.".'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
1
Page 2 [Clause 3], leave out lines 20 to 25.
Mr Chancellor of the Exchequer
38
Page 5, line 10 [Clause 5], leave out 'the date on which this Act is passed' and insert 'such date as the Commissioners of Customs and Excise may by order made by statutory instrument appoint'.
Mr Chancellor of the Exchequer
39
Page 5, line 17 [Clause 5], leave out 'on which this Act is passed' and insert 'appointed under subsection (6)(a)'.
Mr Chancellor of the Exchequer
40
Page 5, line 26 [Clause 5], leave out 'that on which this Act is passed' and insert 'the date appointed under subsection (6)(a)'.
Mr Chancellor of the Exchequer
41
Page 5, line 28 [Clause 5], leave out 'day on which this Act is passed' and insert 'date appointed under subsection (6)(a)'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
2
Page 13 [Clause 19], leave out subsection (1) and insert—
'(1) Schedule 5 to this Act, which provides—
For vehicle excise duty to be charged at nil rate in respect of vehicles registered under the Vehicle Excise and Registration Act 1994 that are neither being used nor kept on a public road,
for vehicle excise duty to be charged in respect of things that were once mechanically propelled vehicles and which were used or kept on a public road without being licensed but have ceased to be mechanically propelled vehicles,
for supplements to be payable where vehicle licences are renewed late and
for it to be an offence to be a person in whose name an unlicensed vehicle is registered under the Act,
has effect.'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
25
Page 13 [Clause 19], leave out lines 41 and 42.
Mr Alex Salmond
42
Page 41 [Clause 63], leave out lines 13 to 27.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
3
Page 64, line 16 [Clause 89], at end insert 'and ceases to have effect in relation to accounting periods of controlled foreign companies beginning on or after the earlier of:
| (a) | the third anniversary of the day on which this Act is passed; and |
| (b) | the expiry of any twelve month period during which no statutory instrument is approved under section 748A(5) of the Taxes Act 1988 (territorial exclusions from exemption under section 748).'. |
Mr Alex Salmond
43
Page 64 [Clause 91], leave out from beginning of line 34 to end of line 33 on page 68.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
4
Page 75 [Clause 98], leave out from beginning of line 39 to end of line 6 on page 76 and insert 'or a series of qualifying donations made by him in one or more of the previous three years of assessment (a year in respect of which an election is made being an "elected year" for the purposes of this section).
(2) Any such election may be made by notice in writing to an officer of the Inland Revenue before or at the time that the donor delivers the return required under section 8 of the Taxes Management Act 1970 (c. 9) (personal return) for the year in which the gift is actually made.
(3) An election may be made in respect of an elected year only to the extent that the grossed-up amount of any gift or part-gift would, if made in that elected year, be payable out of profits or gains brought into charge to income tax or capital gains tax for that elected year. Where an election is made to treat a single gift as if it had been a series of qualifying donations made in one or more years, the sum of such qualifying donations may not exceed the amount of the actual gift.
(4) On receipt of an election under this section, the Board of Inland Revenue shall make such payments and adjustments as appear necessary to them to leave the donor in the position he would have been in had he made the relevant gift or part-gift in the relevant elected year and the provisions of section 25(6) to (9A) of the Finance Act 1990 had then taken effect.'.
Mr Chancellor of the Exchequer
13
Page 76, line 13, leave out Clause 99.
Mr Chancellor of the Exchequer
19
Page 92, line 9 [Clause 114], leave out from first 'of' to 'exceeds' in line 10 and insert 'the consideration'.
Mr Chancellor of the Exchequer
20
Page 92, line 13 [Clause 114], leave out from 'consideration' to 'exceeds' in line 14.
Mr Chancellor of the Exchequer
21
Page 93, line 1 [Clause 114], leave out subsections (6) and (7).
Mr Chancellor of the Exchequer
22
Page 93, line 15 [Clause 114], at end insert—
'() Schedule [Stamp duty: contracts chargeable as conveyances: supplementary provisions] contains provisions supplementing this section.'.
Mr Chancellor of the Exchequer
23
Page 93, line 16 [Clause 114], leave out subsection (9).
Mr Chancellor of the Exchequer
24
Page 93, line 17 [Clause 114], leave out 'applies' and insert 'and that Schedule apply'.
NEW SCHEDULE
Mr Chancellor of the Exchequer
NS1
To move the following Schedule:—
'Stamp duty: contracts chargeable as conveyances: supplementary provisions
Subsales
| 1 | | This Part of this Schedule has effect for affording relief from duty under section 114 (contracts chargeable as conveyances) on a subsale. |
| 2 | | For the purposes of this Schedule there is a subsale— |
(a) where the purchaser under a contract or agreement for the sale of an estate or interest in land in the United Kingdom ("the original sale"), without having obtained a conveyance of the property contracted to be sold, contracts to sell the whole or part of the property to another person, or
(b) where the sub-purchaser under a subsale of an estate or interest in land in the United Kingdom, without having obtained a conveyance of the property contracted to be sold, contracts to sell to another person the whole or part of the property contracted to be sold by the original sale,
so as to entitle that person to call for a conveyance from the original seller.
Relief where duty paid on original sale or earlier subsale
| 3 | (1) | Where duty under section 114 has been paid— |
(a) on the original sale, or
(b) on an intervening subsale,
duty under that section on a subsale, or subsequent subsale, is chargeable only in respect of the amount (if any) by which the chargeable consideration on that transaction exceeds the chargeable consideration on the earlier transaction.
| (2) | If there is more than one such earlier transaction on which duty has been paid, the reference in sub-paragraph (1) to the chargeable consideration on the earlier transaction shall be read as a reference to the higher or highest amount of chargeable consideration on which duty has been paid. |
| (3) | If the subsale does not relate to the whole of the property to which the earlier transaction related, the references in sub-paragraphs (1) and (2) to the chargeable consideration on an earlier transaction shall be read as references to an appropriate proportion of that consideration. |
| (4) | What is an appropriate proportion shall be determined on a just and reasonable basis having regard to the subject matter of the subsale and of the earlier transaction. |
| (5) | For the purposes of this paragraph the chargeable consideration on a transaction is the consideration that falls to be brought into account in determining the duty chargeable on it. |
| (6) | Where under this paragraph duty on a subsale is chargeable in respect of part only of the consideration for the subsale, it is chargeable at the rate that would be applicable if the whole of the chargeable consideration on the subsale were taken into account. |
Subsequent conveyance or transfer
| 4 | (1) | This Part of this Schedule has effect for affording relief where ad valorem duty is chargeable both— |
(a) under section 114 on a contract or agreement ("the original sale"), and
(b) on a subsequent conveyance or transfer by the original seller to the purchaser, or a sub-purchaser, in conformity with that contract or agreement.
| (2) | References in this Part to the purchaser under the original sale, or a sub-purchaser under a subsale, include a person by whom the rights of the purchaser, or a sub-purchaser, are exercisable by virtue of any assignment (in Scotland, assignation) or agreement (other than a subsale). |
Conveyance or transfer of property contracted to be sold
| 5 | (1) | Where the original seller conveys the whole of the property contracted to be sold— |
(b) to a sub-purchaser in circumstances in which section 58(4) of the Stamp Act 1891 (c.39) applies (conveyance chargeable only on consideration moving from sub-purchaser),
the conveyance or transfer is chargeable with duty only to the extent (if any) that the ad valorem duty chargeable on it (apart from this sub-paragraph) exceeds the duty paid under section 114 on the original sale together with the amount of any such duty paid on an intervening subsale.
(a) the original seller conveys the property contracted to be sold to different sub-purchasers in parts or parcels, and
(b) section 58(5) of the Stamp Act 1891 (c.39) applies (conveyance chargeable only on consideration moving from sub-purchaser),
the conveyance or transfer of each part or parcel is chargeable with duty only to the extent (if any) that the ad valorem duty chargeable on it (apart from this sub-paragraph) exceeds an appropriate proportion of the ad valorem duty paid on the original sale together with an appropriate proportion of any such duty paid on an intervening subsale.
| (3) | What is an appropriate proportion shall be determined on a just and reasonable basis having regard to the subject matter of the conveyance or transfer and of the earlier transaction. |
| (4) | Where sub-paragraph (1) or (2) applies to reduce or extinguish the duty payable on a conveyance or transfer, the Commissioners shall, upon application and upon production of the earlier instrument or instruments, duly stamped, either— |
(a) denote the payment of the whole of the ad valorem duty upon the conveyance or transfer, or
(b) transfer to the conveyance or transfer the ad valorem duty paid on the earlier instrument or instruments.
Repayment of duty in certain cases
(a) duty is paid under section 114 on the original sale,
(b) one or more conveyances or transfers are executed in conformity with that contract or agreement so that the whole of the property contracted to be sold is duly conveyed to a purchaser or to one or more sub-purchasers,
(c) those conveyances or transfers are all duly stamped, and
(d) the aggregate amount of the duty that would have been paid on those conveyances or transfers but for duty having been previously paid on the original sale is less than the duty paid on the original sale,
the Commissioners shall repay the difference to the person by whom the duty was paid on the original sale.
| (2) | If duty has been paid under section 114 on one or more intervening subsales, sub-paragraph (1) has effect with the following modifications— |
(a) the reference to duty having been paid on the original sale shall be read as a reference to duty having been paid either on the original sale or on an intervening subsale;
(b) the reference to the amount of duty paid on the original sale shall be read as a reference to the aggregate of the amounts paid on the original sale and any intervening subsales, and
(c) any repayment shall be apportioned among the persons by whom those amounts were paid.
| (3) | The apportionment mentioned in sub-paragraph (2)(c) shall be made on a just and reasonable basis having regard to the subject matter of the original sale and of the subsale or subsales in question. |
General supplementary provisions
Construction of references to duty on transactions
| 7 | | Any reference in section 114 or this Schedule to duty chargeable or paid on a transaction is to duty chargeable or paid on the stamping of the instrument by which the transaction is effected. |
Transactions relating to land in the UK and to other property
| 8 | (1) | Where a transaction relates both to land in the United Kingdom and to other property, section 114 and this Schedule apply as if there were separate transactions. |
| (2) | Similarly, the reference in section 114(1)(b) to a series of transactions is to a series of transactions so far as relating to land in the United Kingdom. |
| (3) | If, in a case where a transaction or series of transactions relates partly to land in the United Kingdom and partly to other property, the consideration is not apportioned in a manner that is just and reasonable, section 114 and this Schedule shall have effect as if the consideration had been apportioned in such a manner. |
Person claiming relief to establish entitlement
| 9 | | It is for a person claiming any relief under this Schedule to prove to the satisfaction of the Commissioners that he is entitled to relief and in what amount. |
| 10 | | Section 114 and this Schedule shall be construed as one with the Stamp Act 1891 (c.39).'. |
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