Amendments proposed to the Finance Bill - continued House of Commons

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Mr Paul Boateng

94

Schedule     13,     page     332,     line     20,     leave out from 'an' to 'the' in line 21 and insert 'organisation accredited under'.


   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

59

Clause     79,     page     75,     line     21,     leave out '£500' and insert '£550'.


   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

34

Schedule     15,     page     341,     line     8,     leave out '17th March 1986' and insert '9th December 2003'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

36

Schedule     15,     page     341,     line     11,     after 'which', insert 'interest'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

35

Schedule     15,     page     341,     line     17,     leave out '17th March 1986' and insert '9th December 2003'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

37

Schedule     15,     page     341,     line     28,     leave out first 'a' and insert 'the chargeable'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

38

Schedule     15,     page     341,     line     33,     leave out 'in pursuance of any legal obligation'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

105

Schedule     15,     page     341,     line     36,     after 'person', insert ', less the appropriate part of any capital payment made to the owner of the relevant land in respect of the land by the chargeable person.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

39

Schedule     15,     page     343,     line     2,     leave out '17th March 1986' and insert '9th December 2003'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

40

Schedule     15,     page     343,     line     5,     after 'which', insert 'interest'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

41

Schedule     15,     page     343,     line     10,     leave out '17th March 1986' and insert '9th December 2003'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

42

Schedule     15,     page     343,     line     23,     leave out 'in pursuance of any legal obligation'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

106

Schedule     15,     page     343,     line     25,     after 'person', insert 'less the appropriate part of any capital payment made to the owner of the chattel in respect of the chattel by the chargeable person.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

44

Schedule     15,     page     344,     line     18,     after 'settlor', insert 'and the words "or will or may become" were replaced by the word "currently" in the subsection'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

43

Schedule     15,     page     344,     line     24,     leave out '17th March 1986' and insert '9th December 2003'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

45

Schedule     15,     page     344,     leave out lines 34 to 38 and insert—

       'T is the amount of income and capital gains on which any income tax or capital gains tax is payable by virtue of section 660A or section 739 of the Taxes Act 1988 or section 77 or section 86 of the Taxation of Chargeable Gains Act 1992 (c. 12), so far as attributable to the relevant property.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

107

Schedule     15,     page     344,     line     34,     leave out 'of any income tax or capital gains tax payable' and insert 'by reference to which any income tax or capital gains tax is payable'.

   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

46

Schedule     15,     page     345,     line     5,     leave out 'whole'.

   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

47

Schedule     15,     page     345,     line     18,     at end insert—

      '(e) it was a disposal more than seven years prior to the date when he first occupies the relevant land or is first in possession of or first has the use of the chattel, or

      (f) it was a disposal by way of gift, the value of which at the date of the gift did not exceed the upper limit shown in the second column of the Table in Schedule 1 to IHTA 1984.'.

   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

48

Schedule     15,     page     345,     line     31,     at end insert 'or would have fallen to be so treated by the provisions of sections 102A or 102B of the 1986 Act if the disposal by way of gift had been made on or after 9th March 1999 or would have fallen to be so treated by the provisions of section 102 of the 1986 Act if the disposal by way of gift had been made on or after 19th June 2003.'.

   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

49

Schedule     15,     page     345,     line     42,     at end insert 'or would fall to be so treated but for the provisions of section 102C(3) of the 1986 Act.

      (e) would fall to be so treated but for the proviso to subsection (3) or subsections (4) or (5) of section 102A of the 1986 Act or would fall to be so treated but for subsection (3) of section 102B of the 1986 Act or would have fallen to be so treated but for any of those subsections if the disposal by way of gift had been made on or after 9th March 1999.

      (f) would fall to be treated by virtue of the IHTA 1984 as property to which he, his spouse or former spouse is beneficially entitled or where the value of the property is attributable to other property which would fall to be treated by virtue of the IHTA 1984 as property to which he, his spouse or former spouse is beneficially entitled.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

108

Schedule     15,     page     345,     line     42,     at end insert—

      '(g) is settled property which became settled property by virtue of a disposal by way of gift made by him and in which he, his spouse, or former spouse is for the time being beneficially entitled to an interest in possession (whether or not any such interest in possession subsisted when the property first became settled property)'.

   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

50

Schedule     15,     page     345,     line     45,     after second 'property', insert 'directly or indirectly'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

109

Schedule     15,     page     345,     line     47,     leave out subparagraph (b) and insert—

      '(b) he, his spouse or former spouse is for the time being beneficially entitled to an interest in possession in the settled property (whether or not any such interest in possession subsisted when the property first became settled property).'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

112

Schedule     15,     page     346,     line     8,     after '(2)', insert 'Subject to sub-paragraph (3) below.'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

51

Schedule     15,     page     346,     line     14,     at end insert 'or in property directly or indirectly derived from the property so disposed of'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

60

Schedule     15,     page     346,     line     22,     leave out '£2,500' and insert '£10,000'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

61

Schedule     15,     page     347,     line     4,     after 'sections', insert '93 and'.

   

Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

103

Schedule     15,     page     347,     line     41,     after 'descriptions', insert—'except chattels on display to the public for 28 or more days in any one year if a transfer of those chattels is not an exempt transfer of value under the conditional exemption provided under section 30 IHTA 1984'.

   

Mr Oliver Letwin
Mr Howard Flight [R]
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne

62

Schedule     15,     page     348,     line     4,     leave out 'the year of assessment 2005-06' and insert 'any year of assessment following the year of assessment 2004-05 ("the relevant year")'.

 
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Prepared 13 May 2004