| Amendments proposed to the Finance Bill - continued | House of Commons |
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Mr Oliver Letwin 283 Clause 188, page 160, line 33, after 'Ireland)', insert ', or
Mr David Laws 188 Schedule 31, page 447, line 40, at end insert—
Mr David Laws 189 Schedule 31, page 448, line 24, at end insert '"charity lump sum death benefit"'.
Mr Quentin Davies 113 Schedule 31, page 449, line 23, at end insert—'(2A) In that subsection, immediately before the entry relating to section 616, insert—
Mr Oliver Letwin 336 Clause 195, page 164, line 17, leave out '35%' and insert '32%'.
Mr Oliver Letwin 337 Clause 196, page 164, line 39, leave out '35%' and insert '32%'.
Mr Oliver Letwin 228 Clause 205, page 172, line 27, leave out '75' and insert '80'.
Mr Oliver Letwin 205 Schedule 32, page 451, line 33, leave out 'pensioner'.
Mr Oliver Letwin 206 Schedule 32, page 451, line 36, leave out 'pensioner'.
Mr Oliver Letwin 263 Schedule 32, page 453, line 4, leave out '75' and insert '80'.
Mr Paul Boateng 324 Clause 207, page 174, line 13, at end insert—'(7) In this Part references (however expressed) to a person's lifetime allowance at any time are to what would be the person's lifetime allowance, calculated in accordance with this section, if a benefit crystallisation event occurred in relation to the person at that time.'.
Mr Paul Boateng 325 Clause 208, page 175, line 13, at end insert—'(9) In this Part references (however expressed) to the portion of a person's lifetime allowance that is available at any time are to the portion of the person's lifetime allowance that would be available, calculated in accordance with this section, if a benefit crystallisation event occurred in relation to the person at that time.'.
Mr Paul Boateng 326 Clause 266, page 215, line 32, at end insert—'"NIA 1965" means the National Insurance Act 1965 (c. 51),"NIA(NI) 1966" means the National Insurance Act (Northern Ireland) 1966 (c. 6 (N.I.)),'.
Mr Paul Boateng 327 Clause 266, page 215, line 35, at end insert—'"SSCBA 1992" means the Social Security Contributions and Benefits Act 1992 (c.4),"SSCB(NI)A 1992" means the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c.7),'.
Mr Oliver Letwin 203 Clause 266, page 216, leave out line 1.
Mr Paul Boateng 328 Clause 266, page 216, line 11, leave out 'the individual's' and insert 'a person's'.
Mr Oliver Letwin 288 Clause 266, page 216, leave out lines 19 and 20.
Mr Paul Boateng 329 Clause 266, page 217, leave out line 16.
Mr Paul Boateng 330 Clause 266, page 217, line 21, at end insert—
Mr Oliver Letwin 204 Clause 266, page 218, leave out lines 23 and 24.
Mr Oliver Letwin 199 Clause 266, page 218, line 25, at end insert—
Mr Oliver Letwin 264 Schedule 34, page 474, line 24, leave out '7' and insert '6'.
Mr Oliver Letwin 265 Schedule 34, page 482, line 1, leave out '75' and insert '80'.
Mr Oliver Letwin 266 Schedule 34, page 482, line 17, leave out '75' and insert '80'.
Mr Oliver Letwin 331 Clause 270, page 220, line 34, at end insert 'except that with effect from the date on which this Act receives Royal Assent no member of any pension scheme described in sub-paragraphs (a) to (g) of paragraph 1(1) to Schedule 34 will be required to buy an annuity on reaching any age and such a member may instead elect for income withdrawal (and Chapter 3 and Schedules 28 and 29 will have effect accordingly in such cases with effect from 6 April 2004).'.
Mr Paul Boateng 157 Clause 277, page 231, line 14, leave out '2012' and insert '2011'.
Mr Oliver Letwin 3 Clause 291, page 241, line 41, leave out 'is to any extent responsible' and insert 'has the primary responsibility'.
Mr Oliver Letwin 4 Clause 292, page 242, line 19, at end insert 'and shall, to the extent, that he is aware of the existence of any other person who is a promoter in relation to the same notifiable arrangments, deliver a copy of the prescribed information to such other person in the prescribed manner.'.
Mr Oliver Letwin 5 Page 242, line 39, leave out Clause 294.
Mr Oliver Letwin 6 Clause 297, page 243, line 33, leave out from 'promoter' to end of line 35.
NEW CLAUSESRestriction of exceptions from charges
Mr Paul Boateng NC2 To move the following Clause:—'(1) Each of the provisions of Part 7 of the Income Tax (Earnings and Pensions) Act 2003 (c.1) (employment income: securities) specified in subsection (2) (exception from charges for certain company shares) is amended in accordance with subsections (3) to (5). (2) The provisions are—
(3) In subsection (1) of each of those sections, after paragraph (b) (but before the word "and" where that word features at the end) insert—
(4) After subsection (1) of each of those sections insert— "(1A) This subsection is satisfied if the avoidance of tax or national insurance contributions was not the main purpose, or one of the main purposes, of the arrangements under which the right or opportunity to acquire the employment-related securities was made available." (5) In subsection (4) of sections 429, 443 and 446R, and in subsection (3) of section 449, for the words after "are not" substitute "employment-related securities."; and accordingly omit section 429(5), 443(5), 446R(5) and 449(4). (6) In Chapter 3A of that Part of that Act (securities with artificially depressed market value), after section 446I insert— "446IA Disapplication of exceptions from charges (1) Section 429 (exception from charge under section 426 for certain company shares) does not prevent section 426 (restricted securities: chargeable events) applying in relation to an event if section 446E or 446I(1)(a) would have effect in relation to the event. (2) Section 443 (exception from charge under section 438 for certain company shares) does not prevent section 438 (convertible securities: chargeable events) applying in relation to an event if section 446G, 446H or 446I(1)(b) would have effect in relation to the event. (3) Section 446R (exception from charge under Chapter 3C for certain company shares) does not prevent that Chapter (securities acquired for less than market value) applying in relation to employment-related securities if section 446B would have effect in relation to them. (4) Section 449 (exception from charge under Chapter 4 for certain company shares) does not prevent that Chapter (benefits from securities) applying in relation to a benefit if section 446I(1)(e) would have effect in relation to the benefit." (7) In Chapter 3B of that Part of that Act (securities with artificially enhanced market value), after section 446N insert— "446NA Disapplication of exceptions from charges (1) None of the provisions specified in subsection (2) (exceptions from charges for certain company shares) apply in relation to employment-related securities if the market value of the employment-related securities at the time of the acquisition has been increased by at least 10% by non-commercial increases within the period of 7 years ending with the acquisition. (2) The provisions are—
(3) If section 446L (market value on valuation date increased by more than 10% by non-commercial increases during relevant period) applies in relation to employment-related securities, section 429 does not subsequently apply in relation to the employment-related securities." (8) This section applies on and after 7th May 2004.'.
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