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

66

Page     45,     line     43     [Clause     66],     leave out from beginning to end of line 2 on page 46 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)'.

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Mr Chancellor of the Exchequer

67

Page     46,     line     15     [Clause     66],     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)'.

   

Mr Chancellor of the Exchequer

68

Page     46,     line     27     [Clause     67],     leave out from 'under' to '(orders' in line 28 and insert 'the Parliamentary Constituencies Act 1986 (c.56)'.

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

22

Page     47,     line     23     [Clause     68],     leave out 'stamp duty land' and insert 'property transaction'.

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Mr Chancellor of the Exchequer

69

Page     49,     line     35     [Clause     72],     at end insert—

',or

(c)	a wholly-owned subsidiary of a bank within paragraph (a) or a building society within paragraph (b).

       For the purposes of paragraph (c) a company is a wholly-owned subsidiary of a bank or building society ("the parent") if it has no members except the parent and the parent's wholly-owned subsidiaries or persons acting on behalf of the parent or the parent's wholly-owned subsidiaries.'.

   

Mr Chancellor of the Exchequer

70

Page     49,     line     40     [Clause     72],     at end insert—

       'Until the appointed day for the purposes of the Abolition of Feudal Tenure etc. (Scotland) Act 2000 (asp5), the reference in paragraph (a) to the interest of the owner shall be read, in relation to feudal property, as a reference to the estate or interest of the proprietor of the dominium utile.'.

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Mr Chancellor of the Exchequer

71

Page     50,     line     24     [Clause     73],     leave out from 'institution"' to end of line 28 and insert 'has the same meaning as in section 72'.

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Mr Chancellor of the Exchequer

72

Page     53,     line     9     [Clause     79],     leave out subsection (2) and insert—

    '(2)   This section applies to every land transaction other than—

(a)	a contract for a land transaction under which the transaction is to be completed by a conveyance, or

(b)	a transfer of rights (within the meaning of section 45) under such a contract.

In this subsection "contract" includes any agreement and "conveyance" includes any instrument.'.

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Mr Chancellor of the Exchequer

73

Page     58,     line     28     [Clause     90],     leave out from 'regulations' to end of line 30 and insert 'for carrying this section into effect.'.

   

Mr Chancellor of the Exchequer

74

Page     58,     line     38     [Clause     90],     leave out from 'on' to end of line 39 and insert—

'an application;

( )	make provision for postponing payment of tax when an application has been made;

( )	provide for an appeal to the General or Special Commissioners against a refusal to accept an application, and make provision in relation to such an appeal corresponding to any provision made in relation to appeals under Part 7 of Schedule 10 (appeals against Revenue decisions on tax);'.

   

Mr Chancellor of the Exchequer

75

Page     58,     line     43     [Clause     90],     at end insert—

    '( )   The provisions of Schedule 10 (returns, enquiries, assessments and other matters) apply to a return under this section as they apply to a land transaction return.'.

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Mr Chancellor of the Exchequer

76

Page     59,     line     2     [Clause     90],     at end insert—

       'This applies as regards both the time of payment and the calculation of the amount payable.

    ( )   Regulations under this section may provide that where—

(a)	a payment is made as mentioned in subsection (4), and

(b)	an application under this section is accepted in respect of other chargeable consideration taken into account in calculating the amount of that payment,

section 80 (adjustment where contingency ceases or consideration is ascertained) does not apply in relation to the payment and, instead, any necessary adjustment shall be made in accordance with the regulations.'.

   

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

23

Page     59,     line     24     [Clause     93],     leave out 'stamp duty land' and insert 'property transaction'.

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

99

Page     65,     line     11     [Clause     104],     leave out 'stamp duty land' and insert 'property transaction'.

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

24

Page     69,     line     1     [Clause     114],     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

25

Page     69,     line     10     [Clause     114],     leave out 'stamp duty land' and insert 'property transaction'.

   

Mr Chancellor of the Exchequer

77

Page     69,     line     22     [Clause     115],     leave out from 'General' to end of line 23 and insert 'and Special Commissioners, appeals and other proceedings before the Commissioners and related matters'.

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Mr Chancellor of the Exchequer

78

Page     71,     line     4     [Clause     117],     leave out 'right of a tenant over' and insert 'tenant's right over or interest in a'.

   

Mr Chancellor of the Exchequer

79

Page     71,     line     4     [Clause     117],     at end insert—

       'Until the appointed day for the purposes of the Abolition of Feudal Tenure etc. (Scotland) Act 2000 (asp5), the reference in paragraph (a) to the interest of the owner shall be read, in relation to feudal property, as a reference to the estate or interest of the proprietor of the dominium utile.'.

   

Mr Chancellor of the Exchequer

143

*Page     71,     line     42     [Clause     120],     at end insert—

    '()   Where tax has been paid in respect of a land transaction ("the first transaction") that involves missives of let in Scotland that constitute a lease, and subsequent to those missives of let a lease is granted ("the second transaction") which either—

(a)	is in conformity with the missives of let, or

(b)	relates to substantially the same property and period as the missives of let,

the tax that would otherwise be charged in respect of the second transaction is reduced by the amount of tax paid in respect of the first transaction in respect of the missives of let.'.

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Mr Chancellor of the Exchequer

144

*Page     72,     line     4     [Clause     121],     after 'means' insert '—

(a)	in relation to a lease, when it is executed by the parties (that is to say, by signing) or constituted by any means;

(b)	in relation to any other transaction,'.

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

26

Page     75,     line     2     [Clause     123],     leave out 'stamp duty land' and insert 'property transaction'.

   

Mr Chancellor of the Exchequer

80

Page     75,     line     20     [Clause     125],     leave out subsections (5) and (6) and insert—

    '(5)   This section and that Schedule have effect—

(a)	in relation to an instrument effecting a land transaction, if the transaction—

(i)	is an SDLT transaction within the meaning of Schedule 19 to this Act (stamp duty land tax: commencement and transitional provisions), or

(ii)	would be such a transaction but for an exemption or relief from stamp duty land tax;

(b)	in relation to an instrument effecting a transaction other than a land transaction, if the instrument is executed on or after the implementation date for the purposes of stamp duty land tax (see paragraph 2(2) of that Schedule).

For this purpose an instrument effecting both a land transaction and a transaction other than a land transaction is treated as if it were two instruments to which paragraph (a) and paragraph (b) above respectively applied.

    (5A)   Where in the case of an instrument effecting both a land transaction and a transaction other than a land transaction the result of applying subsection (5) is that stamp duty is chargeable on either or both of the deemed instruments, the enactments relating to stamp duty have effect as if—

(a)	there were two instruments as mentioned in the closing words of that subsection,

(b)	the consideration had been apportioned between them in a just and reasonable manner, and

(c)	the amount found on that apportionment to be attributable to the chargeable instrument, or (as the case may be) to each of them, had been set forth distinctly in that instrument.'.

    (6)   In subsections (5) and (5A) "land transaction" has the same meaning as in Part 4 of this Act.'.

Prepared 27 Jun 2003