Amendments proposed to the Finance Bill, As Amended - continued House of Commons

back to previous text
Small or medium-sized enterprises

   

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

NC4

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


Tax Law Commission

   

Mr Michael Jack

NC5

To move the following Clause:—

    '(1)   The Commissioners of Inland Revenue and the Commissioners of Customs and Excise shall jointly prepare and submit to Parliament a Report on the Need for a Tax Law Commission ("the report"), with a view to the review, modernisation, improvement and general simplification of the tax law of the United Kingdom.

    (2)   The report shall have regard to all factors that seem to the Commissioners of Inland Revenue and the Commissioners of Customs and Excise to be relevant but shall be compiled only after a full process of consultation with all interested parties.

    (3)   The report shall in particular consider—

      (a) the increase over recent years in the volume of tax law;

      (b) the age of particular sections of tax law;

      (c) the compliance costs for taxpayers and others resulting from tax law; and

      (d) reports from the Tax Law Rewrite Project on their findings in relation to problems in the tax law that they have rewritten and the actions that have been taken on those matters.

    (4)   The report shall be presented to Parliament by 31st March 2004.

    (5)   In this section—

      (a) "tax law" means—

      (i) primary legislation governing the raising and general management of taxes in the United Kingdom;

      (ii) statutory instruments supporting and amplifying such primary legislation; and

      (iii) any additional guidance materials intended to facilitate the operation of the statutory provisions;

      (b) but "tax law" shall not include case law except in so far as it may provide evidence of areas of tax law that cause operational difficulties.'.


Exemption from vehicle excise duty on historic vehicles

   

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

NC8

*To move the following Clause:—

       'In paragraph 1A(1) of Schedule 2 to the Vehicle Excise and Registration Act 1994, for the words "before 1st January 1973" there shall be substituted "more than 30 years before the beginning of the year in which that time falls.".'.


R&D tax relief: exploration and appraisal in the North Sea

   

Mr Alex Salmond

NC9

*To move the following Clause:—

       '.—Schedule 12 of the Finance Act 2002 (c. 23) is amended by inserting at the end of paragraph 19(1) ", subject to the specific inclusion of oil and gas exploration and appraisal as defined in section 837B of that Act.".'.


   

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

3

Page     6,     line     22     [Clause     9],     leave out '15' and insert '5'.


   

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

1

Page     7,     line     8     [Clause     9],     at end insert 'less the amount of value added tax paid or payable by the person on those payments'.

   

Mr Chancellor of the Exchequer

4

Page     7,     line     12     [Clause     9],     at end insert—

    '( )   where a payment relates to a supply of services on which value added tax is chargeable, the amount of value added tax chargeable shall be disregarded (irrespective of whether or not that amount is paid by way of value added tax),'.


   

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

52

*Page     15,     line     15,     leave out Clauses 17 and 18.


   

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

8

Page     29,     line     30     [Clause     42],     leave out 'stamp duty land' and insert 'property transaction'.


   

Mr Chancellor of the Exchequer

53

*Page     30,     line     36     [Clause     44],     at end insert—

    '( )   A person is not regarded as entering into a land transaction by reason of entering into the contract, but the following provisions have effect.'.


   

Mr Chancellor of the Exchequer

54

*Page     32,     line     1     [Clause     45],     leave out 'Where this section applies,' and insert 'The transferee is not regarded as entering into a land transaction by reason of the transfer of rights, but'.

   

Mr Chancellor of the Exchequer

55

*Page     32,     line     3     [Clause     45],     leave out subsections (3) and (4) and insert—

    '(3)   That section applies as if there were a contract for a land transaction (a "secondary contract") under which—

      (a) the transferee is the purchaser, and

      (b) the consideration for the transaction is—

      (i) so much of the consideration under the original contract as is referable to the subject-matter of the transfer of rights and is to be given (directly or indirectly) by the transferee or a person connected with him, and

      (ii) the consideration given for the transfer of rights.

       The substantial performance or completion of the original contract at the same time as, and in connection with, the substantial performance or completion of the secondary contract shall be disregarded.

    (4)   Where there are successive transfers of rights, subsection (3) has effect in relation to each of them.

       The substantial performance or completion of the secondary contract arising from an earlier transfer of rights at the same time as, and in connection with, the substantial performance or completion of the secondary contract arising from a subsequent transfer of rights shall be disregarded.'.

   

Mr Chancellor of the Exchequer

56

*Page     32,     line     23     [Clause     45],     at end insert—

    '( )    Section 839 of the Taxes Act 1988 (connected persons) applies for the purposes of subsection (3)(a)(i).'.


   

Mr Chancellor of the Exchequer

57

*Page     33,     line     15     [Clause     47],     leave out 'part-exchange' and insert 'relief for certain exchanges'.


   

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

98

*Page     35,     line     40     [Clause     53],     leave out 'stamp duty land' and insert 'property transaction'.


   

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

9

Page     37,     line     30,     leave out Clause 56.


   

Mr Chancellor of the Exchequer

58

*Page     38,     line     12     [Clause     58],     leave out from 'dwelling' to end of line 13.

   

Mr Chancellor of the Exchequer

59

*Page     38,     line     20     [Clause     58],     leave out from beginning to 'and' in line 21.


   

Mr Chancellor of the Exchequer

60

*Page     41,     line     37     [Clause     61],     leave out lines 37 to 40 and insert—

       'The National Assembly for Wales

Local government: England

       A county or district council constituted under section 2 of the Local Government Act 1972 (c.70)'.

   

Mr Chancellor of the Exchequer

61

*Page     41,     line     45     [Clause     61],     at end insert—

'Local government: Wales

       A county or county borough council constituted under section 21 of the Local Government Act 1972 (c.70).'.


   

Mr Chancellor of the Exchequer

62

*Page     42     [Clause     61],     leave out lines 4 to 11 and insert—

       'A Strategic Health Authority or Health Authority established under section 8 of the National Health Service Act 1977 (c.49)

       A Special Health Authority established under section 11 of that Act

       A Primary Care Trust established under section 16A of that Act

       A Local Health Board established under section 16BA of that Act

       A National Health Service Trust established under section 5 of the National Health Service and Community Care Act 1990 (c.19)'.

   

Mr Chancellor of the Exchequer

63

*Page     42,     line     24     [Clause     61],     at end insert—

Other planning authorities

       Any other authority that—

      (a) is a local planning authority within the meaning of the Town and Country Planning Act 1990 (c.8), or

      (b) is the planning authority for any of the purposes of the planning Acts within the meaning of the Town and Country Planning (Scotland) Act 1997 (c.8)'.

 
previous section contents continue
 
House of Commons home page Houses of Parliament home page House of Lords home page Search page Enquiries index

©Parliamentary copyright 2003
Prepared 25 Jun 2003