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

296

Schedule     41,     page     428,     line     23,     leave out '(7ZA)' and insert '(7ZD)'.


   

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

207

Clause     194,     page     126,     line     16,     leave out 'any of subsections (1) to' and insert 'the definition of "the Mutual Assistance Directive" in subsection'.

   

Mr Paul Boateng

304

*Clause     194,     page     126,     line     19,     at end insert—

    '( )   An order under subsection (5) shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of the House of Commons.'.


   

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

200

Clause     196,     page     127,     line     7,     after 'made', insert 'after consultation and agreement'.

   

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

288

Clause     196,     page     127,     line     41,     after 'for', insert 'the immediate benefit of'.

   

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

289

Clause     196,     page     127,     line     43,     at end insert ', being a description in respect of which the Community obligation or arrangements referred to in subsection (1) above apply.'.


   

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

284

Clause     207,     page     138,     line     13,     leave out subsection (3) and insert—

    '(3)   For subsection (3) substitute—

          "(3)   For the purposes of making their determination under sub-section (1)(b) the Treasury shall be required to apply generally accepted accounting practices in determining whether all or part of any payments represent such interest as is referred to in that sub-section.".'.


   

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

282

Clause     208,     page     138,     line     24,     at end insert 'such determination to be made in accordance with generally accepted accounting practice.'.


   

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

283

Clause     209,     page     138,     line     31,     leave out 'as the Treasury consider appropriate' and insert 'as conforms with generally accepted accounting practice.'.


NEW CLAUSES

Treatment of certain leases granted by registered social landlords between 1st January 1990 and 27th March 2000

   

Mr Paul Boateng

NC6

*To move the following Clause:—

    '(1)   This section applies to a lease in relation to which the following conditions are met—

      (a) it is a lease of a dwelling granted by a registered social landlord to one or more individuals;

      (b) it is for an indefinite term or is terminable by notice of a month or less;

      (c) it was executed on or after 1st January 1990 and before 28th March 2000;

      (d) at the time the lease was granted the rate or average rate of the rent (whether reserved as a yearly rent or not) was £5,000 or less.

    (2)   A lease to which this section applies (whether or not presented for stamping) shall be treated—

      (a) for the purposes of section 14 of the Stamp Act 1891 (c.39) (production of instrument in evidence) as it applies in relation to proceedings begun after the day on which this Act is passed, and

      (b) for the purposes of section 17 of that Act (enrolment etc of instrument) as it applies to any act done after that day, as if it had been duly stamped in accordance with the law in force at the time when it was executed.

    (3)   If in the case of a lease to which this section applies the Commissioners are satisfied—

      (a) that the instrument was stamped on or before the day on which this Act is passed, and

      (b) that stamp duty was charged in respect of it,

       they shall pay to such person as they consider appropriate an amount equal to the duty (and any interest or penalty) so charged.

    (4)   Any such payment must be claimed before 1st January 2004.

    (5)   Entitlement to a payment under subsection (3) is subject to compliance with such conditions as the Commissioners may determine with respect to the production of the instrument, to its being stamped so as to indicate that it has been produced under this section or to other matters.

    (6)   For the purposes of section 10 of the Exchequer and Audit Departments Act 1866 (c. 39) (Commissioner to deduct repayments from gross revenues) any amount paid under subsection (3) above is a repayment.

    (7)   This section shall be construed as one with the Stamp Act 1891(c. 39).

    (8)   The reference in subsection (1) above to a lease granted by a "registered social landlord" is to a lease granted by a body that at the time the lease is granted—

      (a) is registered in a register maintained under—

      (i) Article 124 of the Housing (Northern Ireland) Order 1981 (S.I. 1981/156 (N.I.3)),

      (ii) section 3(1) of the Housing Associations Act 1985 (c. 69),

      (iii) Article 14 of the Housing (Northern Ireland) Order 1992 (S.I. 1992/1725 (N.I. 15)),

      (iv) section 1(1) of the Housing Act 1996 (c. 52), or

      (v) section 57 of the Housing (Scotland) Act 2001 (asp 10), or

      (b) is a body corporate whose objects correspond to those of a housing association and which, pursuant to a contract with Scottish Homes, is registered in a register kept for the purposes by Scottish Homes.

    (9)   Section 129 of this Act (relief for certain leases granted on or after 1st January 2000) does not apply to a lease to which this section applies.'.


Tax credits for individual savings accounts and personal equity plans

   

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

NC1

To move the following Clause:—

       '.—Section 76(1)(a) of the Finance Act 1998 (c. 36) shall cease to have effect.'.


Top rate of income tax

   

Adam Price
Mr Elfyn Llwyd
Mr Simon Thomas
Mr Hywel Williams

NC2

To move the following Clause:—

       'A top rate of income tax (on earnings over £50,000) shall be charged for the year 2003-04, and for that year the top rate shall be charged at 50%.'.


Debits and credits treated as relating to capital expenditure

   

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

NC3

To move the following Clause—

    '.—(1)   Paragraph 14 of Schedule 9 to the Finance Act 1996 (debits and credits treated as relating to capital expenditure) is amended as follows:

    (2)   After sub-paragraph (1) insert—

          "(1A)   This paragraph also applies where any debit or credit given by an authorised accounting method for any accounting period in respect of a loan relationship of a company is allowed by generally accepted accounting practice to be treated, in the accounts of the company, as an amount brought into account in determining the value of a financial asset.".

    (3)   After sub-paragraph (3) insert—

          "(4)   For the purpose of sub-paragraph (1A) above a "financial asset" is as defined by Financial Reporting Standard 5 issued in April 1994 by the Accounting Standards Board, as from time to time amended.".'.


Transfers between settlements

   

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

NC4

To move the following Clause:—

       '. Section 90 of the Taxation of Chargeable Gains Act 1992 (transfers between settlements) is amended with effect from 9th April 2003, by deleting sub-paragraph 90(5).'.


Continuation of children's tax credit for persons subject to immigration control

   

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

NC5

To move the following Clause:—

    '(1)   Where this section applies—

      (a) the repeal of section 257AA of, and Schedule 13B to, the Taxes Act 1988 (children's tax credit) by sections 1(3)(a) and 60 of, and Schedule 6 to, the Tax Credits Act 2002 (the 2002 Act); and

      (b) the repeal of the references to "section 257AA" in section 257C of the Taxes Act 1988 by section 60 of, and Schedule 6 to, the 2002 Act

       shall not apply.

    (2)   This section applies where the claimant is wholly or partly excluded from entitlement to child tax credit or working tax credit (or both) by reason of being a person subject to immigration control within the meaning of section 42 of the 2002 Act and regulations made thereunder.'.


Small or medium-sized enterprises

   

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

NC6

*To move the following Clause:—

    '.—(1)   The Capital Allowances Act 2001 is amended as follows.

    (2)   For subsection 1 of Section 44 (Expenditure incurred by small or medium-sized enterprises) substitute—

          "(1)   Expenditure is first-year qualifying expenditure if—

          (a) it is incurred by a small or medium-sized enterprise, or

          (b) it is incurred by a lessor on equipment leased to a small or medium-sized enterprise, and

          (c) and it is not excluded by subsection (2) or section 46 (General exclusions applying to sections 40, 44 and 45)."

    (3)   In subsection 5 of Section 46 (General exclusions applying to sections 40, 44 and 45) after "section", insert "44".

    (4)   In section 52 (First-year Allowances) column 1 of the Table is amended as follows—

      (a) at the end of the first row insert "or incurred by a lessor on equipment leased to small or medium-sized enterprise";

      (b) at the end of the second row insert "or incurred by a lessor on equipment leased to small or medium-sized enterprise".'.


ORDER OF THE HOUSE [6th MAY 2003]

That the following provisions shall apply to the Finance Bill:

Committal

    1.—(1)   Clauses 1, 4, 5, 9, 14, 22, 42, 56, 57, 124, 130 to 135, 138, 139, 148 and 184 and Schedules 5, 6, 19, 21, 22 and 25, and any new Clauses and Schedules tabled by Friday 9th May 2003 relating to excise duty on spirits or R&D tax credits for oil exploration, shall be committed to a Committee of the whole House.

    (2)   The remainder of the Bill shall be committed to a Standing Committee.

    2.   Proceedings in Committee of the whole House shall be completed in two days.

    3.—(1)   Proceedings in the Standing Committee shall (so far as not previously concluded) be brought to a conclusion on 12th June 2003.

    (2)   The Standing Committee shall have leave to sit twice on the first day on which it meets.

    4.   When the provisions of the Bill considered, respectively, by the Committee of the whole House and by the Standing Committee have been reported to the House, the Bill shall be proceeded with as if it had been reported as a whole to the House from the Standing Committee.

Other proceedings

    5.   Any other proceedings on the Bill may be programmed.


ORDER OF THE HOUSE [8th MAY 2003]

That the programme order of 6th May 2003 shall be amended by the substitution in paragraph 1(1) (provisions committed to Committee of the whole House) of the words 'Schedules Nos. 5, 6, 19 and 25' for the words 'Schedules Nos. 5, 6, 19, 21, 22 and 25'.


ORDER OF THE COMMITTEE [15th MAY 2003], AS AMENDED

    That—   

      (1) during proceedings on the Finance Bill the Standing Committee do meet when the House is sitting on Tuesdays and Thursdays at 8.55 a.m. and 2.30 p.m., except on Tuesday 3rd June when it shall meet at 10.30 a.m. and at 4.30 p.m. and on Thursday 5th June when it shall meet only at 8.55 a.m.;

      (2) the proceedings shall be taken in the order shown in the first column of the following Table, and shall (so far as not previously concluded) be brought to a conclusion at the times specified in the second column of the Table:—

TABLE

Proceedings
Time for
conclusion of
proceedings
Clauses 2, 3, 6 to 8, 10 to 13 and 15 to 19, Schedule 1, Clauses 20, 21 and 23, Schedule 2, Clauses 24 to 41, 147 and 149 to 151, Schedule 26, Clauses 152 to 154, Schedule 27, Clauses 155 and 163 to 166, Schedule 30, Clause 167, Schedule 31, Clause 168, Schedule 32, Clause 169, Schedule 33, Clause 170, Schedule 34, Clauses 171 and 172, Schedule 35, Clause 173, Schedules 21 and 225.00 p.m. on Thursday
22nd May
Clauses 43 to 49, Schedule 3, Clause 50, Schedule 4, Clauses 51 to 55 and 58 to 62, Schedule 7, Clauses 63 to 68, Schedule 8, Clauses 69 and 70, Schedule 9, Clauses 71 to 78, Schedule 10, Clause 79, Schedule 11, Clauses 80 to 91, Schedule 12, Clauses 92 and 93, Schedule 13, Clauses 94 to 99, Schedule 14, Clauses 100 to 104, Schedule 15, Clause 105, Schedule 16, Clauses 106 to 115, Schedule 17, Clauses 116 to 123, Schedule 18, Clause 125, Schedule 20, Clauses 126 to 129, 136, 137 and 140, Schedule 23, Clauses 141 and 142, Schedule 24, Clauses 143 to 14611.25 a.m. on Tuesday
10th June
Clauses 156 to 158, Schedule 28, Clauses 159 to 162, Schedule 29, Clauses 174 and 175, Schedule 36, Clauses 176 and 177, Schedule 37, Clauses 178 to 180, Schedule 38, Clause 181, Schedule 39, Clauses 182, 183 and 200, Clauses 185 to 192, Schedule 40, Clause 193, Schedule 41, Clauses 194 to 197, Schedule 42, Clauses 198, 199 and 201 to 213, Schedule 43, Clause 214, new Clauses, new Schedules, any remaining proceedings on the Bill.5.00 p.m. on Thursday
12th June


 
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Prepared 10 Jun 2003