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

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Mr Chancellor of the Exchequer

94

*Page     239,     line     27     [Schedule     17],     at end insert—

    '( ) The regulations may—

            (a)   authorise or require the Commissioners, in circumstances specified in the regulations, to state a case for the opinion of a court;

            (b)   make provision as to the practice and procedure to be followed in connection with cases so stated;

            (c)   make provision in relation to cases so stated corresponding to any provision made by section 56 of the Taxes Management Act 1970 (c.9) (statement of case for opinion of High Court) or by that section as modified in its application to Northern Ireland by section 58 of that Act.

    ( ) The regulations may—

            (a)   provide for an appeal to lie to a court on a question of law arising from a decision of the Commissioners;

            (b)   make provision as to the practice and procedure to be followed in connection with such appeals;

            (c)   make provision in relation to such appeals corresponding to any provision made by section 56A of the Taxes Management Act 1970 (c.9) (appeals from the Special Commissioners) or by that section as modified in its application to Northern Ireland by section 58 of that Act.'.

   

Mr Chancellor of the Exchequer

95

*Page     239,     line     27     [Schedule     17],     at end insert—

      'Publication of reports of decisions

     (1) The Lord Chancellor may make regulations authorising the Special Commissioners to publish reports of such of their decisions as they consider appropriate.

    (2) The regulations shall provide that any report published that is not a report of proceedings heard in public must be in a form that so far as possible prevents the identification of any person whose affairs are dealt with in the report.

    (3) No obligation of secrecy to which the Special Commissioners are subject prevents their publishing reports of their decisions in accordance with provision made by virtue of this paragraph.'.


   

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

34

Page     240,     line     17     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

35

Page     240,     line     21     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

36

Page     240,     line     25     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

37

Page     240,     line     27     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

38

Page     240,     line     29     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

39

Page     240,     line     32     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

40

Page     240,     line     37     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.


   

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

41

Page     241,     line     11     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

42

Page     241,     line     15     [Schedule     18],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

43

Page     241,     line     21     [Schedule     19],     leave out 'SDLT' and insert 'PTT'.

   

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

44

Page     241,     line     28     [Schedule     19],     leave out 'SDLT' and insert 'PTT'.

   

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

45

Page     241,     line     31     [Schedule     19],     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

11

Page     241,     line     32     [Schedule     19],     at end insert 'but no order under this paragraph shall appoint a date earlier than 1st December 2004.'.

   

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

46

Page     241,     line     35     [Schedule     19],     leave out 'SDLT' and insert 'PTT'.


   

Mr Chancellor of the Exchequer

96

*Page     242,     line     12     [Schedule     19],     leave out paragraph 4 and insert—

    '4 (1) This paragraph applies where a transaction—

            (a)   is completed on or after the implementation date,

            (b)   is effected in pursuance of a contract entered into and substantially performed before that date, and

            (c)   is not excluded from being an SDLT transaction by paragraph 3.

    (2) The transaction is not an SDLT transaction if the contract was substantially performed before the first relevant date.

    (3) In any other case, the fact that the contract was substantially performed before the implementation date does not affect the matter.

    Accordingly, the effective date of the transaction is the date of completion.'.

   

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

47

Page     242,     line     22     [Schedule     19],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

48

Page     242,     line     26     [Schedule     19],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

49

Page     242,     line     37     [Schedule     19],     leave out 'stamp duty land' and insert 'property transaction'.


   

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

107

*Page     243,     line     10     [Schedule     19],     leave out 'stamp duty land' and insert 'property transaction'.

   

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

50

Page     243,     line     13     [Schedule     19],     leave out 'SDLT' and insert 'PTT'.

   

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

51

Page     243,     line     14     [Schedule     19],     leave out 'SDLT' and insert 'PTT'.

   

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

108

*Page     243,     line     15     [Schedule     19],     leave out 'stamp duty land' and insert 'property transaction'.

   

Mr Chancellor of the Exchequer

97

*Page     243,     line     39     [Schedule     19],     at end insert—

      'Time for stamping agreement for lease: lease subject to stamp duty land tax

     (1) This paragraph makes provision corresponding to section 240 of the Finance Act 1994 (c.9) (stamp duty: time for presenting agreement for lease) and applies where—

            (a)   an agreement for a lease is entered into before the implementation date,

            (b)   a lease giving effect to the agreement is executed on or after that date, and

            (c)   the transaction effected on completion is an SDLT transaction or would be but for an exemption or relief from stamp duty land tax.

    (2) If in those circumstances—

            (a)   the lease is produced when the agreement is presented for stamping, and

            (b)   the duty (if any) chargeable on the agreement is paid,

    sections 15A and 15B of the Stamp Act 1891 (c.39) (interest and penalty on late stamping) apply in relation to the agreement as if it had been executed on the date on which the lease was executed.

    (3) For the purposes of this paragraph a lease gives effect to an agreement if the lease either is in conformity with the agreement or relates to substantially the same property and term as the agreement.

    (4) References in this paragraph to an agreement for a lease include missives of let in Scotland.'.


   

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

15

Page     246,     line     8     [Schedule     20],     after 'other', insert 'transitional'.

 
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Prepared 25 Jun 2003