S.C.B.
Amendment Paper as at
Tuesday 17th June 2003
STANDING COMMITTEE B
FINANCE BILL
(Except Clauses 1, 4, 5, 9, 14, 22, 42, 56, 57, 124, 130 to 135, 138, 139, 148 and 184 and Schedules 5, 6, 19 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.)
NOTE
The Amendments have been arranged in accordance with the Order of the Committee [15th May 2003], as amended.
Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
245
Clause 156, page 93, line 25, after 'other', insert '(whether or not section 58(1) applies to the disposal).'.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
298
Clause 156, page 93, line 41, leave out from beginning to end of line 10 on page 94.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
299
Clause 156, page 94, line 43, at end insert—
'(1A) For each of sections 541(1)(a)(i), 541(1)(b)(i) and 541(1)(c)(i) of the Income and Corporation Taxes Act 1988 substitute—
| "(i) | in any case where, immediately before the chargeable event in question, the rights conferred by the policy or contract were vested in a person (other than the orginal policyholder) who had acquired those rights for a consideration in money or money's worth, the sums which would be allowable as a deduction for the purposes of computing a gain pursuant to Section 38 of the Taxation of Chargeable Gains Act 1992 and, in any other case, the total amount previously paid under the policy by way of premiums; and". |
(1B) For section 543(1)(a)(i) of the Income and Corporation Taxes Act 1988 substitute—
| "(i) | in any case where, immediately before the chargeable event in question, the rights conferred by the contract were vested in a person (other than the original policyholder) who had acquired those rights for a consideration in money or money's worth, the sums which would be allowable as a deduction for the purposes of computing a gain pursuant to Section 38 of the Taxation of Chargeable Gains Act 1992 and, in any other case, the total amount previously paid under the contract, whether by way of premiums or as a lump sum consideration, reduced in either case, if before the happening of the event one or more payments have been made on account of the annuity, by the capital element in that payment or payments, determined in accordance with Section 656; and".'. |
Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
246
Clause 156, page 94, line 44, leave out '9th' and insert '16th'.
Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
247
Clause 159, page 96, line 45, leave out 'or an eligible beneficiary'.
Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
248
Clause 159, page 97, line 41, leave out '6th April 2004' and insert '9th April 2003'.
Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
249
Clause 161, page 100, line 18, after 'assessment', insert 'or accounting period as defined by the Corporation Tax Acts.
(8A) This section shall apply in computing the allowable losses accruing after 9th April 2003 to a company within the charge to corporation tax.'.
Mr Michael Howard [R]
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
250
Clause 161, page 104, line 5, after 'losses', insert 'but more than one notice satisfying the requirements of this section may be contained in a single document'.
Mr Michael Howard
Mr Howard Flight
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
208
Clause 162, page 105, leave out lines 21 to 39.
Mr Michael Howard
Mr Howard Flight
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
209
Clause 162, page 105, line 28, leave out 'that date' and insert '9th April 2003'.
Mr Paul Boateng
297
Clause 162, page 105, line 32, leave out paragraph (d) and insert—
| '(d) | so much of Schedule 4C as amended as provides— |
| (i) | that gains treated as accruing to beneficiaries who are not chargeable to tax are treated as outstanding section 87/89 gains, or |
| (ii) | that gains in a settlement's Schedule 4C pool are not to be treated as accruing to such beneficiaries, |
| | applies only in relation to capital payments made on or after 9th April 2003;'. |
Mr Michael Howard
Mr Howard Flight
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
210
Schedule 29, page 354, line 16, at end insert—
'(3A) Where any outstanding section 87/89 gains of a settlement are brought into the settlement's Schedule 4C pool by virtue of any provision of this Schedule, they shall thereafter no longer be available for attribution to beneficiaries of that settlement under sections 87(4) or 89(2), nor shall they thereafter be outstanding trust gains of that settlement within the meaning of section 90(2) or (3) on any subsequent occasion to which section 90 might otherwise apply.'.
Mr Michael Howard
Mr Howard Flight
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
212
Schedule 29, page 355, line 12, after 'the', insert 'available'.
Mr Michael Howard
Mr Howard Flight
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
211
Schedule 29, page 356, line 34, at end insert—
'(4) Where in any year gains are attributed under section 87(4) or section 89(2) to beneficiaries who are chargeable to tax within the meaning of paragraph 8(4), the amount so attributed shall in future years thereafter no longer form part of the Schedule 4C pool of any settlement which is a relevant settlement in relation to that pool.'.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
290
Clause 175, page 111, line 18, at end insert—
'(1A) The provisions of Schedule 36 have effect in relation to adult placement carers with the modifications specified in subsections (1B) to (1G) below.
(1B) References to the "provision of foster care" are to the provision of services under a placement agreement as an adult placement carer.
(1C) The expressions "placement agreement" and "adult placement carer" have the meanings given to them by subsection (1H) and (1J) below, and paragraph 4 does not apply.
(1D) References to a "foster care arrangement" are to arrangements by which an individual provides services under a placement agreement as an adult placement carer otherwise than as part of a trade, profession or vocation carried on by that individual.
(1E) References to "foster care receipts" and "total foster care receipts" are to receipts in respect of the provision of services under a placement agreement as an adult placement carer.
(1F) References to a child are to a service user under a placement agreement.
(1G) The weekly amount for a service user for the purposes of ascertaining the individual's limit is £270, and paragraph 8(2) does not apply.
(1H) A "placement agreement" is an agreement between a service user, an adult placement carer and the local authority or other agency that manages an adult placement scheme (see subsection (1K)), which makes provision for the terms under which the service user is to be accommodated, cared for or supported by the adult placement carer under the adult placement scheme.
(1J) An "adult placement carer" is a person approved by an adult placement scheme (see subsection (1K)) who provides short or long term accommodation, care or support in their home to vulnerable adults placed with them through and supported by the adult placement scheme.
(1K) An "adult placement scheme" is a scheme managed by a local authority or independent (profit or non-profit making) agency, and working to government guidelines and standards in England and Wales, Scotland and Northern Ireland, which is responsible:—
| (a) | for recruiting, assessing, training and supporting adult placement carers; |
| (b) | for taking referrals, matching and placing service users with adult placement carers; and |
| (c) | for supporting and maintaining the placement.'. |
Mr Michael Howard
Mr Howard Flight
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
203
Schedule 36, page 408, line 23, at end insert—
'(7) The Treasury may by order substitute, for the fixed amount in sub-paragraph (1), a higher figure in relation to a residence in a high-cost area designated by them for the purposes of this paragraph.'.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
310
Schedule 37, page 415, leave out lines 1 to 3 and insert—
'(4) The amendments made by this paragraph have effect in relation to loan relationships entered into on or after 9th April 2003'.
