Amendments proposed to the Finance Bill - continued	House of Commons
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Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire

184

Schedule     13,     page     215,     line     38,     leave out sub-paragraph (2).

   

Mr Paul Boateng

265

Schedule     13,     page     216,     line     32,     leave out 'officer or the Board' and insert 'Inland Revenue'.

   

Mr Paul Boateng

266

Schedule     13,     page     216,     line     37,     leave out 'the officer or the Board' and insert 'an officer of the Board'.

   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire

185

Schedule     13,     page     219,     line     34,     leave out sub-paragraph (2).

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Mr Paul Boateng

267

Clause     98,     page     61,     line     13,     leave out 'freely and fully'.

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Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire

8

Schedule     15,     page     231,     line     1,     leave out from beginning to end of line 4.

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Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire

186

Schedule     16,     page     235,     line     7,     leave out 'and any person who subsequently becomes a trustee.'.

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Mr Paul Boateng

268

Clause     122,     page     72,     line     35,     at end insert—

'acquisition relief

Schedule 7, paragraph 8(1)'

   

Mr Paul Boateng

269

Clause     122,     page     72,     line     41,     at end insert—

'charities relief	Schedule 8, paragraph 1(1)
closure notice	Schedule 10, paragraph 23(1) (in relation to a land transaction return); Schedule 11, paragraph 16(1) (in relation to a self-certificate)'

   

Mr Paul Boateng

270

Clause     122,     page     73,     line     2,     at end insert—

'completion (in Scotland)

section 121'

   

Mr Paul Boateng

271

Clause     122,     page     73,     line     6,     at end insert—

'discovery assessment

Schedule 10, paragraph 28(1)'

   

Mr Paul Boateng

272

Clause     122,     page     73,     line     12,     at end insert—

'implementation date

Schedule 19, paragraph 2(2)'

   

Mr Paul Boateng

273

Clause     122,     page     73,     line     24,     at end insert—

'notice of enquiry

Schedule 10, paragraph 12(1) (in relation to a land transaction return); Schedule 11, paragraph 7(1) (in relation to a self-certificate)'

   

Mr Paul Boateng

274

Clause     122,     page     73,     line     30,     at end insert—

'reconstruction relief

Schedule 7, paragraph 7(1)'

   

Mr Paul Boateng

275

Clause     122,     page     73,     line     32,     at end insert—

'Revenue determination

Schedule 10, paragraph 25(1)'

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Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire

63

Clause     125,     page     74,     line     31,     at end add 'or transactions excluded from stamp duty land tax by Part 3 of Schedule 15 to this Act'.

   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire

64

Clause     125,     page     74,     line     34,     at end add 'or which is the subject of a transaction excluded from stamp duty land tax by Part 3 of Schedule 15 to this Act'.

   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire

65

Clause     125,     page     75,     line     11,     leave out from 'instruments' to end of line 13 and insert—

       'if they are executed on or after the implementation date for the purpose of stamp duty land tax (see Schedule 19 to this Act).'.

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Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire

67

Schedule     20,     page     244,     line     4,     at end add—

       'Clearance procedure

    2A(1)   The following provisions shall have effect where in pursuance of this Part of this Schedule a person furnishes to the Inland Revenue particulars of things done or to be done by him (either alone or together with others) to seek confirmation of a just and reasonable apportionment of any consideration, that is to say—

(a)

if the Inland Revenue are of the opinion that the particulars, or any further information furnished in pursuance of this paragraph, are not sufficient for the purposes of this Part of this Schedule, they shall within 30 days of the receipt thereof notify to that person what further information they require for those purposes, and unless that further information is furnished to the Inland Revenue within 30 days from the notification, or such further time as the Inland Revenue may allow, they shall not be required to proceed further under this section;

(b)

subject to sub-paragraph (1)(a) above, the Inland Revenue shall within 30 days of the receipt of the particulars, or, where that sub-paragraph has effect, of all further information required, notify that person whether or not they are satisfied that the apportionment proposed is just and reasonable;

       and, subject to the following provisions of this paragraph, if the Inland Revenue notify him that they are so satsified, the apportionment proposed shall be deemed to have been done on a just and reasonable basis.

    (2)   If the particulars, and any further information given under this paragraph with respect to any transaction or transactions, are not such as to make full and accurate dislosure of all facts and considerations relating thereto which are material to be known to the Inland Revenue, any clearance given by them under this paragraph shall be void.

    (3)   In no event shall the giving of a clearance under this paragraph with respect to any transaction or transactions prevent this paragraph applying to a person in respect of transactions which include that transaction or all or some of those transactions and also include another transaction or other transactions.'.

   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


66

Schedule     20,     page     244,     leave out lines 27 to 36.

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Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


68

Clause     126,     page     75,     line     22,     leave out subsection (2).

   

Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


73

Clause     126,     page     75,     line     34,     leave out lines 34 to 36 and insert 'reacquired by a group company by a transfer which was—

(i)	at a just and reasonable value under a duly stamped instrument on which ad valorem duty was paid and not subject to a claim for group relief; or

(ii)	at a just and reasonable value under a chargeable transaction in respect of which stamp duty land tax was paid and not subject to a claim for relief under Part 1 of Schedule 7 to the Finance Act 2003; or

(ii)	exempt from duty or exempt from stamp duty land tax.'.

   

Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


74

Clause     126,     page     76,     line     16,     leave out lines 16 to 18 and insert 'reacquired by a group company by a transfer which was—

(i)	at a just and reasonable value under a duly stamped instrument on which ad valorem duty was paid and not subject to a claim for group relief; or

(ii)	at a just and reasonable value under a chargeable transaction in respect of which stamp duty land tax was paid and not subject to a claim for relief under Part 1 of Schedule 7 to the Finance Act 2003; or

(iii)

exempt from duty or exempt from stamp duty land tax.'.

   

Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


69

Clause     126,     page     76,     line     30,     leave out '14th April 2003' and insert 'the day on which this Act is passed'.

   

Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


70

Clause     126,     page     76,     line     32,     leave out '9th April 2003' and insert '14th April 2003'.

   

Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


71

Clause     126,     page     76,     line     32,     leave out '9th April 2003' and insert 'the day on which this Act is passed'.

   

Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


72

Clause     126,     page     76,     line     39,     leave out subsection (11).

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Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire


75

Clause     127,     page     76,     line     43,     leave out subsection (2).
Prepared 3 Jun 2003