Vote Bundle Text (940617-09)

Amendments proposed to the Finance Bill - continued	House of Commons

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Valuation assumptions

Mr Paul Boateng

NC16

To move the following Clause:—

'For the purposes of this Part the valuation assumptions in relation to a person and any benefits are—

(a) if the person has not reached such age (if any) as must have been reached to avoid any reduction in the benefits on account of age, that the person reached that age on the date, and

(b) that the person's right to receive the benefits had not been occasioned by physical or mental impairment.'.

Premium bonds

Mr Paul Boateng

NC17

To move the following Clause:—

'Regulations under section 11 of the National Debt Act 1972 (c.65) (power of Treasury to make regulations as to raising of money under auspices of Director of Savings) may repeal any provision contained in section 54 of, or Schedule 18 to, the Finance Act 1968 (c.44) (terms of issue of premium savings bonds).'.

Partnerships exploiting films

Mr Paul Boateng

NC18

*To move the following Clause:—

'After section 118ZK of the Taxes Act 1988 (inserted by section 119) there is inserted—

"Partnerships exploiting films

118ZL Partnerships exploiting films

(1) Where (apart from this section) an amount may be given to an individual under section 380 or 381 in respect of a loss ("the loss in question") sustained by him—

(a) in a trade consisting of or including the exploitation of films, and

(b) in an affected year of assessment,

none of that amount may be given otherwise than against income consisting of profits arising from the trade; but this is subject to subsection (4).

(2) An "affected year of assessment" means a year of assessment at any time during which the individual carried on the trade in partnership which is also—

(a) the year of assessment in which the trade is first carried on by him or any of the next three years of assessment,

(b) a year of assessment in which he did not devote a significant amount of time to the trade, and

(c) a year of assessment at any time during which there existed a relevant agreement guaranteeing him an amount of income.

(3) For the purposes of subsection (2)(c)—

(a) "a relevant agreement" means—

(i) an agreement that was made with a view to the individual's carrying on the trade or in the course of his carrying it on (including any agreement under which he is or may be required to contribute an amount to the trade), or

(ii) an agreement related to an agreement falling within sub-paragraph (i),

(b) an agreement "guarantees" the individual an amount of income if the agreement, or any part of it, is designed to secure the receipt by the individual of that amount (or at least that amount) of income, and

(4) If the loss in question derives to any extent from exempt expenditure, amounts that (apart from this section) may be given under section 380 or 381 in respect of the loss otherwise than against income consisting of profits arising from the trade may be so given to the extent that the total of the amounts so given does not exceed the exempt part of the loss.

(5) The exempt part of the loss is so much of the loss in question as derives from exempt expenditure.

(6) Expenditure is exempt expenditure for the purposes of this section if it is—

(a) expenditure incurred before 26 March 2004 in a case where this paragraph applies, or

(b) expenditure that, for the purposes of the computation required by section 111(2), was deducted under section 41 or 42 of the Finance (No. 2) Act 1992, or

(c) incidental expenditure that, although deductible apart from section 41 or 42 of that Act, was incurred in connection with the production or acquisition of a film in relation to which expenditure was deducted under either of those sections.

(7) Subsection (6)(a) applies where the individual carried on the trade before 26 March 2004.

118ZM Partnerships exploiting films: supplementary

(1) In section 118ZL and this section any reference to a film is to be construed in accordance with paragraph 1 of Schedule 1 to the Films Act 1985.

(2) Section 118ZH (meaning of "a significant amount of time" etc) applies for the purposes of section 118ZL as it applies for the purposes of section 118ZE.

(3) For the purposes of section 118ZL(3) agreements are related if they are entered into in pursuance of the same arrangement (regardless of the date on which either agreement is entered into).

(4) The reference in section 118ZL(6) to the acquisition of a film is a reference to the acquisition of the master negative or any master tape or master disc of the film; and this subsection is to be construed in accordance with section 43(1) and (2)(b) of the Finance (No. 2) Act 1992.

(5) In section 118ZL(6) "incidental expenditure" means expenditure on management, administration or obtaining finance.

(6) The part of the loss in question that derives from exempt expenditure shall be determined on such basis as is just and reasonable.

(7) The extent to which any expenditure falls within section 118ZL(6)(c) shall be determined on such basis as is just and reasonable.

(8) In any case where sections 380 and 381 have effect as mentioned in section 118ZD(2) or 118ZI(3) (cases where sections 380 and 381 have effect as if loss carried forward from earlier year sustained in subsequent year), section 118ZL also has effect as mentioned in section 118ZD(2) or (as the case may be) section 118ZI(3)."'.

Repeal of section 677 of Taxes Act 1988

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

NC1

To move the following Clause:—

'Section 677 of the Taxes Act 1988 (sums paid to settlor otherwise than as income) is hereby repealed.'.

Expenditure incurred on assets leased by small or medium-sized enterprise

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

NC4

To move the following Clause:—

'(1) The Capital Allowances Act 2001 is amended as follows.

(2) For subsection 44(1), substitute—

"(1) Expenditure is first-year qualifying expenditure if—

(a) it is incurred by a small or medium-sized enterprise, or

(b) it is incurred by a lessor on equipment leased to a small or medium-sized enterprise, and

(3) In the table in subsection 52(3) insert in the second and third lines after "small or medium-sized enterprises"—

"or incurred by a lessor on equipment leased to a small or medium-sized enterprise".'.

Expenditure incurred in installing access ramps

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

NC5

To move the following Clause:—

(1) The Capital Allowances Act 2001 is amended as follows.

(2) In section 23(2) after "section 29 (fire safety)" insert—

"29A (ramps for disabled access)"

(3) After section 29 insert—

"29A Ramps for disabled access installed by small or medium-sized enterprises

(1) This section applies to expenditure if a small or medium-sized enterprise carrying on a qualifying activity has incurred it in installing ramps required to facilitate access by disabled persons to premises which the small or medium-sized enterprise uses for the purposes of the qualifying activity.

(2) A small or medium-sized enterprise installs ramps required to facilitate access by disabled persons if the installation is or will be required to comply with section 21 of the Disability Discrimination Act 1995.'.

Transfers of real property between joint occupiers

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

NC6

To move the following Clause:—

'(1) The Inheritance Tax Act 1984 is amended as follows.

(2) After section 18 insert—

"Transfers of real property between joint occupier

18A (1) A transfer on death shall be an exempt transfer to the extent that it comprises a part or whole share in an interest in real property that has been occupied as the main residence of the transferor and the transferees throughout the two years prior to the date of death.

(2) For the purposes of determining whether a property has been in the occupation referred to in paragraph (1) above, there shall be disregarded any absences during which either party has had to receive residential nursing care whether in hospital or a private facility.".'.

Gift aid and non-taxpayers

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

NC7

To move the following Clause:—

'(1) Section 25 of the Finance Act 1990 (donations to charity by individuals) shall be amended in accordance with subsection (2) below.

(2) In subsection (8)—

(a) after "year of assessment" there shall be inserted "by more than £520"; and

(b) at the end there shall be added "over £520".

(3) This section shall be deemd to have effect for the year 2003-04 and subsequent years of assessment.'.

Access for disabled persons

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

NC8

To move the following Clause:—

'(1) The following shall be inserted after section 29 of the Capital Allowances Act 2001—

"29A Access for disabled persons

This section applies to expenditure if a person carrying on a qualifying activity has incurred it in pursuance of a duty under section 21 of the Disability Discrimination Act 1995."

(2) This section shall have effect in relation to expenditure incurred in relation to chargeable periods ending on or after 1st October 2004.'.