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(a) the Schedule F trust rate shall be 32.5 per cent, and
(b) the rate applicable to trusts shall be 40 per cent.
And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.
28. Sums paid to settlor otherwise than as income
- That provision may be made amending section 677 of the Income and Corporation Taxes Act 1988.
29. Provision not at arm's length
- That provision may be made amending Schedule 28AA to the Income and Corporation Taxes Act 1988.
30. Company distributions (payments of excessive interest etc)
- That provision may be made for the repeal of section 209(2)(da) of the Income and Corporation Taxes Act 1988.
31. Investment companies and companies with investment business
- That provision may be made for the purposes of corporation tax in relation to companies which are or have been—
(a) investment companies, as defined in section 130 of the Income and Corporation Taxes Act 1988, or
(b) companies whose business consists wholly or partly in the making of investments.
32. Insurance companies
- That provision may be made about insurance companies and companies which have ceased to be insurance companies after a transfer of business.
33. Loan relationships etc
- That provision (including provision having retrospective effect) may be made for the purposes of corporation tax in relation to—
(a) loan relationships; and
(b) other relationships where a company stands, or is treated as standing, in the position of a creditor or debtor in relation to a debt.
34. Derivative contracts
- That provision (including provision having retrospective effect) may be made in relation to derivative contracts for the purposes of corporation tax.
35. Accounting practice
- That provision may be made as to the meaning of generally accepted accounting practice and otherwise amending provisions of the Tax Acts that operate by reference to accounting practice.
36. Construction industry scheme
- That provision may be made in relation to sub-contractors in the construction industry.
AYES
Abbott, Ms Diane
Adams, Irene (Paisley N)
Ainger, Nick
Ainsworth, Bob (Cov'try NE)
Alexander, Douglas
Allan, Richard
Allen, Graham
Anderson, Janet (Rossendale & Darwen)
Atherton, Ms Candy
Atkins, Charlotte
Austin, John
Bailey, Adrian
Baird, Vera
Baker, Norman
Banks, Tony
Barnes, Harry
Barron, rh Kevin
Battle, John
Bayley, Hugh
Beard, Nigel
Begg, Miss Anne
Beith, rh A. J.
Bell, Sir Stuart
Benton, Joe (Bootle)
Berry, Roger
Best, Harold
Blackman, Liz
Blears, Ms Hazel
Boateng, rh Paul
Borrow, David
Bradley, rh Keith (Withington)
Bradley, Peter (The Wrekin)
Brake, Tom (Carshalton)
Breed, Colin
Brennan, Kevin
Brooke, Mrs Annette L.
Brown, rh Gordon (Dunfermline E)
Brown, rh Nicholas (Newcastle E Wallsend)
Brown, Russell (Dumfries)
Buck, Ms Karen
Burden, Richard
Burgon, Colin
Burnham, Andy
Burstow, Paul
Byers, rh Stephen
Cable, Dr. Vincent
Cairns, David
Calton, Mrs Patsy
Campbell, Alan (Tynemouth)
Campbell, Mrs Anne (C'bridge)
Campbell, rh Sir Menzies (NE Fife)
Campbell, Ronnie (Blyth V)
Carmichael, Alistair
Casale, Roger
Caton, Martin
Cawsey, Ian (Brigg)
Challen, Colin
Chapman, Ben (Wirral S)
Clapham, Michael
Clark, Mrs Helen (Peterborough)
Clark, Dr. Lynda (Edinburgh Pentlands)
Clark, Paul (Gillingham)
Clarke, rh Tom (Coatbridge & Chryston)
Clelland, David
Coaker, Vernon
Coffey, Ms Ann
Cohen, Harry
Coleman, Iain
Colman, Tony
Connarty, Michael
Cooper, Yvette
Corbyn, Jeremy
Cotter, Brian
Cousins, Jim
Cranston, Ross
Crausby, David
Cruddas, Jon
Cryer, John (Hornchurch)
Cummings, John
Cunningham, Jim (Coventry S)
Cunningham, Tony (Workington)
Curtis-Thomas, Mrs Claire
Dalyell, Tam
Darling, rh Alistair
Davey, Edward (Kingston)
David, Wayne
Davidson, Ian
Davies, rh Denzil (Llanelli)
Davies, Geraint (Croydon C)
Dawson, Hilton
Dean, Mrs Janet
Dhanda, Parmjit
Dismore, Andrew
Dobbin, Jim (Heywood)
Dobson, rh Frank
Donohoe, Brian H.
Doran, Frank
Doughty, Sue
Dowd, Jim (Lewisham W)
Drew, David (Stroud)
Eagle, Angela (Wallasey)
Eagle, Maria (L'pool Garston)
Edwards, Huw
Efford, Clive
Ellman, Mrs Louise
Ewing, Annabelle
Farrelly, Paul
Field, rh Frank (Birkenhead)
Fisher, Mark
Fitzpatrick, Jim
Fitzsimons, Mrs Lorna
Flynn, Paul (Newport W)
Follett, Barbara
Foster, rh Derek
Foster, Don (Bath)
Foster, Michael (Worcester)
Foster, Michael Jabez (Hastings & Rye)
Francis, Dr. Hywel
Gapes, Mike (Ilford S)
Gardiner, Barry
George, Andrew (St. Ives)
George, rh Bruce (Walsall S)
Gerrard, Neil
Gibson, Dr. Ian
Gidley, Sandra
Gilroy, Linda
Godsiff, Roger
Green, Matthew (Ludlow)
Griffiths, Jane (Reading E)
Griffiths, Nigel (Edinburgh S)
Griffiths, Win (Bridgend)
Grogan, John
Hain, rh Peter
Hall, Patrick (Bedford)
Hamilton, David (Midlothian)
Hancock, Mike
Hanson, David
Harman, rh Ms Harriet
Harris, Tom (Glasgow Cathcart)
Harvey, Nick
Havard, Dai (Merthyr Tydfil & Rhymney)
Healey, John
Heath, David
Henderson, Doug (Newcastle N)
Henderson, Ivan (Harwich)
Hendrick, Mark
Hepburn, Stephen
Heppell, John
Heyes, David
Hill, Keith (Streatham)
Hinchliffe, David
Hoey, Kate (Vauxhall)
Hope, Phil (Corby)
Hopkins, Kelvin
Howarth, George (Knowsley N & Sefton E)
Hoyle, Lindsay
Hughes, Kevin (Doncaster N)
Hughes, Simon (Southwark N)
Humble, Mrs Joan
Hutton, rh John
Iddon, Dr. Brian
Ingram, rh Adam
Irranca-Davies, Huw
Jamieson, David
Jenkins, Brian
Johnson, Alan (Hull W)
Johnson, Miss Melanie (Welwyn Hatfield)
Jones, Jon Owen (Cardiff C)
Jones, Kevan (N Durham)
Jones, Lynne (Selly Oak)
Jones, Martyn (Clwyd S)
Jones, Nigel (Cheltenham)
Joyce, Eric (Falkirk W)
Keen, Ann (Brentford)
Keetch, Paul
Kemp, Fraser
Kennedy, rh Charles (Ross Skye & Inverness)
Khabra, Piara S.
Kidney, David
Kilfoyle, Peter
King, Ms Oona (Bethnal Green & Bow)
Kirkwood, Sir Archy
Knight, Jim (S Dorset)
Kumar, Dr. Ashok
Lamb, Norman
Lawrence, Mrs Jackie
Laws, David (Yeovil)
Laxton, Bob (Derby N)
Lazarowicz, Mark
Leslie, Christopher
Lewis, Ivan (Bury S)
Lewis, Terry (Worsley)
Liddell, rh Mrs Helen
Linton, Martin
Lloyd, Tony (Manchester C)
Llwyd, Elfyn
Love, Andrew
Luke, Iain (Dundee E)
Lyons, John (Strathkelvin)
McAvoy, Thomas
McCabe, Stephen
McCafferty, Chris
McCartney, rh Ian
McDonagh, Siobhain
McDonnell, John
MacDougall, John
McFall, John
McGuire, Mrs Anne
McIsaac, Shona
McKechin, Ann
McKenna, Rosemary
McNulty, Tony
Mactaggart, Fiona
McWalter, Tony
McWilliam, John
Mahmood, Khalid
Mahon, Mrs Alice
Mallaber, Judy
Mann, John (Bassetlaw)
Marris, Rob (Wolverh'ton SW)
Marsden, Gordon (Blackpool S)
Marsden, Paul (Shrewsbury & Atcham)
Marshall-Andrews, Robert
Martlew, Eric
Meacher, rh Michael
Michael, rh Alun
Miliband, David
Miller, Andrew
Moffatt, Laura
Moonie, Dr. Lewis
Moore, Michael
Moran, Margaret
Morgan, Julie
Morley, Elliot
Mudie, George
Munn, Ms Meg
Naysmith, Dr. Doug
Norris, Dan (Wansdyke)
Oaten, Mark (Winchester)
O'Brien, Bill (Normanton)
O'Neill, Martin
Öpik, Lembit
Organ, Diana
Osborne, Sandra (Ayr)
Owen, Albert
Palmer, Dr. Nick
Perham, Linda
Picking, Anne
Pickthall, Colin
Pike, Peter (Burnley)
Plaskitt, James
Pond, Chris (Gravesham)
Pope, Greg (Hyndburn)
Pound, Stephen
Primarolo, rh Dawn
Prosser, Gwyn
Pugh, Dr. John
Purchase, Ken
Purnell, James
Quin, rh Joyce
Quinn, Lawrie
Rapson, Syd (Portsmouth N)
Reed, Andy (Loughborough)
Reid, Alan (Argyll & Bute)
Rendel, David
Robertson, Angus (Moray)
Robertson, John (Glasgow Anniesland)
Robinson, Geoffrey (Coventry NW)
Roche, Mrs Barbara
Rooney, Terry
Ruane, Chris
Ruddock, Joan
Russell, Bob (Colchester)
Ryan, Joan (Enfield N)
Salmond, Alex
Salter, Martin
Sanders, Adrian
Savidge, Malcolm
Sawford, Phil
Sedgemore, Brian
Sheridan, Jim
Short, rh Clare
Simon, Siôn (B'ham Erdington)
Simpson, Alan (Nottingham S)
Singh, Marsha
Skinner, Dennis
Smith, rh Andrew (Oxford E)
Smith, Geraldine (Morecambe & Lunesdale)
Smith, Jacqui (Redditch)
Smith, Llew (Blaenau Gwent)
Smith, Sir Robert (W Ab'd'ns & Kincardine)
Soley, Clive
Southworth, Helen
Spellar, rh John
Squire, Rachel
Steinberg, Gerry
Stewart, David (Inverness E & Lochaber)
Stewart, Ian (Eccles)
Stoate, Dr. Howard
Strang, rh Dr. Gavin
Stringer, Graham
Stunell, Andrew
Sutcliffe, Gerry
Tami, Mark (Alyn)
Taylor, Dari (Stockton S)
Taylor, David (NW Leics)
Taylor, Matthew (Truro)
Teather, Sarah
Thomas, Simon (Ceredigion)
Tipping, Paddy
Todd, Mark (S Derbyshire)
Tonge, Dr. Jenny
Touhig, Don (Islwyn)
Trickett, Jon
Truswell, Paul
Turner, Dennis (Wolverh'ton SE)
Turner, Dr. Desmond (Brighton Kemptown)
Twigg, Stephen (Enfield)
Tyler, Paul (N Cornwall)
Tynan, Bill (Hamilton S)
Ward, Claire
Wareing, Robert N.
Watson, Tom (W Bromwich E)
Watts, David
Webb, Steve (Northavon)
Weir, Michael
White, Brian
Whitehead, Dr. Alan
Wicks, Malcolm
Williams, rh Alan (Swansea W)
Williams, Betty (Conwy)
Williams, Hywel (Caernarfon)
Willis, Phil
Wills, Michael
Wishart, Pete
Wood, Mike (Batley)
Woodward, Shaun
Woolas, Phil
Wright, Anthony D. (Gt Yarmouth)
Wright, David (Telford)
Wright, Tony (Cannock)
Tellers for the Ayes:
Gillian Merron and
Mr. Jim Murphy
NOES
Ainsworth, Peter (E Surrey)
Amess, David
Ancram, rh Michael
Arbuthnot, rh James
Atkinson, David (Bour'mth E)
Bacon, Richard
Baldry, Tony
Barker, Gregory
Baron, John (Billericay)
Beggs, Roy (E Antrim)
Bellingham, Henry
Bercow, John
Beresford, Sir Paul
Blunt, Crispin
Bottomley, Peter (Worthing W)
Bottomley, rh Virginia (SW Surrey)
Brady, Graham
Brazier, Julian
Browning, Mrs Angela
Burnside, David
Burt, Alistair
Cameron, David
Campbell, Gregory (E Lond'y)
Cash, William
Chapman, Sir Sydney (Chipping Barnet)
Chope, Christopher
Clappison, James
Clarke, rh Kenneth (Rushcliffe)
Clifton-Brown, Geoffrey
Collins, Tim
Conway, Derek
Davies, Quentin (Grantham & Stamford)
Davis, rh David (Haltemprice & Howden)
Djanogly, Jonathan
Dodds, Nigel
Donaldson, Jeffrey M.
Dorrell, rh Stephen
Duncan, Peter (Galloway)
Evans, Nigel
Fallon, Michael
Field, Mark (Cities of London & Westminster)
Flight, Howard
Forth, rh Eric
Fox, Dr. Liam
Francois, Mark
Gale, Roger (N Thanet)
Garnier, Edward
Gillan, Mrs Cheryl
Goodman, Paul
Gray, James (N Wilts)
Grayling, Chris
Green, Damian (Ashford)
Greenway, John
Grieve, Dominic
Hammond, Philip
Hawkins, Nick
Hayes, John (S Holland)
Heathcoat-Amory, rh David
Hermon, Lady
Hoban, Mark (Fareham)
Howard, rh Michael
Howarth, Gerald (Aldershot)
Hunter, Andrew
Jack, rh Michael
Johnson, Boris (Henley)
Key, Robert (Salisbury)
Kirkbride, Miss Julie
Knight, rh Greg (E Yorkshire)
Laing, Mrs Eleanor
Lait, Mrs Jacqui
Lansley, Andrew
Letwin, rh Oliver
Liddell-Grainger, Ian
Lilley, rh Peter
Loughton, Tim
Luff, Peter (M-Worcs)
McIntosh, Miss Anne
Mackay, rh Andrew
Maclean, rh David
McLoughlin, Patrick
Malins, Humfrey
Maude, rh Francis
Mawhinney, rh Sir Brian
May, Mrs Theresa
Mercer, Patrick
Moss, Malcolm
Murrison, Dr. Andrew
Norman, Archie
O'Brien, Stephen (Eddisbury)
Osborne, George (Tatton)
Ottaway, Richard
Paterson, Owen
Prisk, Mark (Hertford)
Randall, John
Robathan, Andrew
Robertson, Hugh (Faversham & M-Kent)
Robertson, Laurence (Tewk'b'ry)
Robinson, Peter (Belfast E)
Rosindell, Andrew
Ruffley, David
Sayeed, Jonathan
Shepherd, Richard
Simmonds, Mark
Smyth, Rev. Martin (Belfast S)
Spicer, Sir Michael
Spink, Bob (Castle Point)
Steen, Anthony
Swayne, Desmond
Syms, Robert
Tapsell, Sir Peter
Taylor, John (Solihull)
Taylor, Sir Teddy
Trimble, rh David
Turner, Andrew (Isle of Wight)
Tyrie, Andrew
Viggers, Peter
Walter, Robert
Waterson, Nigel
Watkinson, Angela
Widdecombe, rh Miss Ann
Wiggin, Bill
Wilkinson, John
Willetts, David
Wilshire, David
Winterton, Ann (Congleton)
Winterton, Sir Nicholas (Macclesfield)
Young, rh Sir George
Tellers for the Noes:
Mr. Peter Atkinson and
Mr. Hugo Swire
Question accordingly agreed to.
- That provision (including provision having retrospective effect) may be made amending, or making amendments connected with, the Income Tax (Earnings and Pensions) Act 2003.
Motion made, and Question put,
- That provision may be made amending section 282A of the Income and Corporation Taxes Act 1988.
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