Amendments proposed to the Finance Bill - continued | House of Commons |
back to previous text |
Mr Oliver Letwin 266 Schedule 34, page 482, line 17, leave out '75' and insert '80'.
Mr Paul Boateng 481 *Schedule 34, page 483, line 23, after 'election' insert 'on or'.
Mr Paul Boateng 482 *Schedule 34, page 483, line 27, leave out 'before 6th' and insert 'on or before 31st'.
Mr Paul Boateng 483 *Schedule 34, page 484, line 20, leave out 'continues to apply' and insert 'applies'.
Mr Paul Boateng 484 *Schedule 34, page 485, line 2, at end insert
'Application of PAYE to certain annuities in payment at commencement
Mr Oliver Letwin 397 Schedule 34, page 485, line 10, leave out 'an employer of an individual makes a relevant consolidation contribution' and insert 'a relevant consolidation contribution is made'.
Mr Oliver Letwin 398 Schedule 34, page 485, line 18, at end insert 'or a transfer from an arrangement not falling within paragraph 1(1) which was established before 6th April 2006'.
Mr Paul Boateng 485 *Schedule 34, page 485, line 38, leave out 'Paragraphs 50 to 52 have' and insert 'Paragraph 50 or 51 has'.
Mr Paul Boateng 486 *Schedule 34, page 486, line 2, leave out 'to which an employee has been' and insert 'of which an employee is'.
Mr Paul Boateng 487 *Schedule 34, page 486, line 9, leave out 'would be' and insert 'is or are'.
Mr Paul Boateng 488 *Schedule 34, page 486, line 11, leave out 'has been' and insert 'is'.
Mr Paul Boateng 489 *Schedule 34, page 486, line 13, leave out 'has been' and insert 'is'.
Mr Paul Boateng 490 *Schedule 34, page 486, line 15, leave out 'have counted' and insert 'counts or count'.
Mr Paul Boateng 491 *Schedule 34, page 486, line 17, leave out 'none of paragraphs 50 to 52 apply' and insert 'neither paragraph 50 nor paragraph 51 has effect'.
Mr Paul Boateng 492 *Schedule 34, page 486, line 19, leave out 'applies' and insert 'has effect'.
Mr Paul Boateng 493 *Schedule 34, page 486, line 25, at end insert 'or
Mr Paul Boateng 494 *Schedule 34, page 486, line 28, after '2003' insert '(charge on benefits from non-approved schemes)'.
Mr Paul Boateng 495 *Schedule 34, page 486, line 32, after first 'the' insert 'appropriate fraction of the'.
Mr Paul Boateng 496 *Schedule 34, page 486, line 36, after 'scheme' insert 'is or'.
Mr Paul Boateng 497 *Schedule 34, page 486, line 38, leave out 'The amount referred to in sub-paragraph (3)(a)' and insert 'For the purposes of sub-paragraph (3)(a)
Mr Paul Boateng 498 *Schedule 34, page 487, line 1, leave out from 'paragraph' to end of line 2 and insert 'has effect if paragraph 50 does not.'.
Mr Paul Boateng 499 *Schedule 34, page 487, line 8, leave out paragraph 52.
Mr Paul Boateng 500 *Schedule 34, page 487, line 22, at end insert 'and
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 367 Clause 290, page 241, line 22, leave out paragraph (c) and insert
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 368 Clause 292, page 242, line 6, after 'period', insert 'of not less than 30 days'.
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.
Mr Oliver Letwin 369 Clause 298, page 244, line 22, at end insert 'but Legal Professional Privilege does not subsist in a way in which prevents compliance with this part of the Act'.
Mr Oliver Letwin 370 Clause 302, page 246, line 39, leave out '1st August 2004' and insert '1st October 2004'.
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
(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
(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
(8) This section applies on and after 7th May 2004.'.
|