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

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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 Chancellor of the Exchequer

12

Page     143,     line     35     [Schedule     1],     at end insert 'and other supplies that are not taxable supplies'.


   

Mr Matthew Taylor
Mr David Laws
Mr Norman Lamb
Mr John Burnett

147

Page     86,     line     9     [Clause     147],     at end insert—

    '(1A)   For the purposes of subsection (1)(b) an agent can only be a person who has authority to and does enter into arrangements on behalf of that person's principal which are contractually binding on that principal.'.


   

Mr David Chaytor
Sue Doughty
Mr John Horam
Mr Simon Thomas
John Austin
Harry Cohen

113

Page     108,     line     14     [Clause     167],     at end insert '; and Part 7 makes provision for an annual report by the Chancellor of the Exchequer on fiscal measures to promote research and development in low carbon energy efficiency technology.'.


   

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

5

Page     138,     line     41     [Clause     207],     leave out subsection (3) and insert—

    '(3)   For subsection (3) substitute—

      "(3) For the purposes of making their determination under subsection (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 subsection.".'.


   

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

6

Page     139,     line     10     [Clause     208],     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

7

Page     139,     line     17     [Clause     209],     leave out 'the Treasury consider appropriate' and insert 'conforms with generally accepted accounting practice.'.


   

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

13

Page     251,     line     9     [Schedule     21],     at end insert 'and insert "or 4 (in respect of shares acquired under approved CSOP schemes pursuant to rights granted before 9th April 2003)".'.

   

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

14

Page     251,     line     14     [Schedule     21],     after 'schemes)', insert 'pursuant to rights granted on or after 9th April 2003'.

   

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

19

Page     251,     line     22     [Schedule     21],     at end insert 'pursuant to a right acquired on or after that date.'.


   

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

20

Page     252,     line     10     [Schedule     22],     at end insert 'provided that nothing in this part will apply to any securities, interests in securities or securities options acquired as part of a larger transaction effected for the purposes of acquiring or making an investment in a trade or business.'.


   

Mr Chancellor of the Exchequer

114

Page     278,     line     6     [Schedule     22],     leave out 'In a case within subsection (1)(a),'.


   

Mr Chancellor of the Exchequer

115

Page     279,     line     33     [Schedule     22],     leave out '428(3)' and insert '428(9)'.


   

Mr Chancellor of the Exchequer

116

Page     310,     line     7     [Schedule     22],     after 'sections', insert '421(2) and'.

   

Mr Chancellor of the Exchequer

117

Page     310,     line     9     [Schedule     22],     after 'for', insert 'the acquisition of'.

   

Mr Chancellor of the Exchequer

118

Page     310,     line     20     [Schedule     22],     at end insert—

       '"the employer (in Chapter 5 of Part 7)               section 471(5)",'.


   

Mr Chancellor of the Exchequer

119

Page     314,     line     8     [Schedule     22],     leave out from 'Table,' to 'insert' in line 9 and insert 'at the appropriate place'.


   

Mr Chancellor of the Exchequer

120

Page     321,     line     2     [Schedule     22],     leave out '428(3) and (6)' and insert '428(6) and (9)'.


   

Mr David Chaytor
Sue Doughty
Mr John Horam
Mr Simon Thomas
John Austin
Harry Cohen

Tony Banks

109

Page     371,     line     31     [Schedule     31],     at end insert—

'Part 7

EXPENDITURE ON ENERGY EFFICIENCY TECHNOLOGY RESEARCH

    25     (1)   The Chancellor of Exchequer must within one year and annually thereafter produce a report on fiscal measures to promote research and development in low carbon energy efficency technology.

    (2)   Low carbon efficiency technology includes

      (a) micro combined heat and power,

      (b) small-scale renewable heat such as solar water heating,

      (c) renewable power such as solar electrcity,

      (d) domestic heat pumps, and

      (e) photo-voltaic equipment.'.


   

Mr Howard Flight

111

Page     376,     line     30     [Schedule     33],     after '82A', insert 'and for "83AB" substitute "83AC"'.


   

Mr Howard Flight

110

Page     377,     line     22     [Schedule     33],     after 'by', insert 'section 83AC or'.


   

Mr Chancellor of the Exchequer

121

Page     378,     line     29     [Schedule     33],     leave out sub-paragraph (6) and insert—

    '(6) After subsection (6A) insert—

          "(6B)   A contract which reinsures risk in respect of insurances to be made only after the making of the contract of reinsurance can constitute a transfer of business by virtue of subsection (6)(c) above only if a potential advantage is conferred on the reinsurer by the contract.

          (6C)   And for the purposes of subsection (6B) above a potential advantage is conferred on the reinsurer by the contract if, taking the contract as "the actual provision" for the purposes of Schedule 28AA to the Taxes Act 1988, the effect of making the actual provision instead of the arm's length provision (within the meaning of that Schedule) would have in relation to the reinsurer the effect specified in paragraph 5(1)(b) of that Schedule.".'.


   

Mr Chancellor of the Exchequer

122

Page     381,     line     11     [Schedule     33],     at end insert—

    '(15)   The references in subsections (8), (12) and (13) above to an amount being brought into account—

      (a) in a case where the amount taken into account as a receipt of the company under section 83(2) above in relation to the contingent loan or loans in question is an amount brought into account in an account concerned wholly with non-participating business, are to its being brought into account in that account or in any other account concerned wholly with non-participating business, and

      (b) in a case where the amount so taken into account is an amount brought into account in an account concerned wholly or partly with participating business, are to its being brought into account in that account or in any other account concerned wholly or partly with participating business.

    (16)   Where—

      (a) a transfer to another fund brought into account for a period of account as other expenditure in any account concerned wholly with non-participating business is brought into account as other income in an account concerned wholly or partly with participating business, or

      (b) a transfer to another fund brought into account for a period of account as other expenditure in any account concerned wholly or partly with participating business is brought into account as other income in an account concerned wholly with non-participating business,

    subsection (8) above has effect as if it were a positive amount brought into account as transfers to non-technical account for that period of account in the account in which it is brought into account as other expenditure.

    (17)   For the purposes of subsections (15) and (16) above—

      (a) an account is concerned wholly with non-participating business if it relates exclusively to policies or contracts under which the policy holders or annuitants are not eligible to participate in surplus, and

      (b) an account is concerned wholly or partly with participating business if it relates wholly or partly to other policies or contracts.".'.

 
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Prepared 1 Jul 2003