NOTICES OF AMENDMENTS
given up to and including
Thursday 9th June 2005
New Amendments handed in are marked thus *
COMMITTEE OF THE WHOLE HOUSE
FINANCE BILL
(Clauses 11, 18, 40, 43, 44 and 69 and Schedule 8)
Mr Chancellor of the Exchequer
To move, That the Order in which proceedings in the Committee of the whole House on the Finance Bill are to be taken shall be Clauses 11, 18 and 40, Schedule 8, Clauses 43, 44 and 69.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
36
*Clause 11, page 11, line 40, at end insert—
| '(h) | interactive experiments with an educational purpose.'. |
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
35
*Clause 11, page 12, line 1, leave out 'one year' and insert 'three months'.
Stephen Hammond
1
*Clause 11, page 12, line 8, after 'family', insert 'or of that person and an accompanying group of no more than twenty individuals.'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
2
*Clause 18, page 17, line 9, at end insert—
| '(i) | in relation to unit trust schemes and open-ended investment companies mainly invested in interests or rights in or over land, determine the rate of corporation tax for the year 2005 and subsequent financial years, to be nil, or the rate at which income tax at the lower rate is charged for year of assessment which begins on 6th April in the financial year concerned. |
| (j) | include provision for unit trust schemes and open-ended investment companies to have different classes of units or shares, and to allow different distributions to be made in respect of such different classes subject always to any rules preventing discrimination between unit holders or shareholders made under section 64(2)(e).'. |
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
3
*Clause 18, page 17, line 21, at end insert—
| '(f) | make special provision for any interest or rights in or over land held by a unit trust scheme or open-ended investment company and may make special provision for withholding tax on distributions from an authorised investment fund, mainly invested in interests or rights over land, and may determine specific circumstances when such tax must be withheld'.' |
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
10
*Schedule 8, page 124, line 23, leave out 'in relation to the financing arrangements'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
8
*Schedule 8, page 124, leave out lines 29 and 30.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
38
*Schedule 8, page 124, line 32, leave out 'the'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
9
*Schedule 8, page 124, line 33, after 'arrangements', insert 'for A'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
7
*Schedule 8, page 125, leave out lines 3 and 4.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
12
*Schedule 8, page 125, line 5, leave out 'B' and insert 'One of the affected persons (B)'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
13
*Schedule 8, page 125, line 6, leave out 'the'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
14
*Schedule 8, page 125, line 7, after 'arrangements', insert 'for B'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
40
*Schedule 8, page 125, line 8, leave out 'B' and insert 'One of the affected persons (B)'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
17
*Schedule 8, page 125, line 9, leave out 'person' and insert 'persons'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
15
*Schedule 8, page 125, line 35, after 'provision', leave out 'relates to' and insert 'has been made or imposed in connection with'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
39
*Schedule 8, page 125, line 35, at end insert 'and would not have been made or imposed in the absence of those financing arrangements'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
16
*Schedule 8, page 125, line 35, at end insert—
'(8) This paragraph shall apply only to a person where that person, or a connected party to that person, owns shares or an interest in shares, in either A or B.'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
18
*Schedule 8, page 125, line 45, leave out from beginning to end of line 23 on page 126.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
19
*Schedule 8, page 126, line 23, at end insert—
| '(6) | after paragraph 13 insert— |
| | | Schedule 28AA ICTA 1988 is amended as follows. |
| 13A | | The Treasury may for the purposes of paragraph 4A Schedule 28AA ICTA 1988, by regulations— |
| (1) | make provisions determining what may constitute arm's length provision for any financing arrangement, by making reference to— |
(b) debt: equity ratios in respect of a company's financing arrangements as defined in paragraph 4A.
| (2) | Under subparagraph (1) different provisions may be made for different categories of business. |
| 13B | (1) | Where, for an accounting period, the financing arrangements of a company or group of companies come within the parameters set in the regulations made in accordance with paragraph 13A then paragraph 5(1) of this Schedule shall not apply to such financing arrangements unless they differ from the financing arrangements that would have been made as between independent enterprises. |
| (2) | For the purposes of this paragraph and paragraph 13A of this Schedule, "financing arrangements" means arrangements made for providing or guaranteeing, or otherwise in connection with, any debt, capital or other form of finance.".' |
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
26
*Schedule 8, page 126, line 23, at end insert—
| '( ) | Paragraph 5D shall be amended as follows—Leave out subparagraphs (1) to (6) and replace with— |
| "(1) | Small enterprise means an enterprise that has no more than 50 staff, and either an annual turnover in the preceding accounting period or a net asset value at the end of the preceeding accounting period of less than £7 million. |
| (2) | Medium enterprise means an enterprise that has no more than 250 staff, and either an annual turnover in the preceding accounting period of less than £35 million or a net asset value at the end of the preceding accounting period of less than £30 million. |
| (3) | "Annual turnover" and "net asset value" shall be defined in accordance with generally accepted accounting practice. |
| (4) | The number of staff shall be determined on the basis that staff that are not full time should be counted at the appropriate fraction.".'. |
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
20
*Schedule 8, page 126, line 25, leave out paragraph 2.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
21
*Schedule 8, page 127, line 5, leave out from 'time' to end of line 7.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
24
*Schedule 8, page 127, line 7, after 'the', insert 'accounting period immediately preceding the'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
22
*Schedule 8, page 127, line 16, leave out from 'satisfied' to end of line 18.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
25
*Schedule 8, page 127, line 18, after 'the', insert 'accounting period immediately preceding the'.
Mr George Osborne
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
23
*Schedule 8, page 127, line 23, leave out from '1988' to end of line 25.
