| Amendments proposed to the Finance Bill - continued | House of Commons |
| back to previous text | |
|
Mr Philip Hammond 26 *Clause 28, page 26, line 9, at beginning insert 'Special'.
Mr Philip Hammond 27 *Clause 28, page 26, line 12, after 'the', insert 'Special'.
Mr Philip Hammond 28 *Clause 28, page 26, line 23, after second 'the', insert 'Special'.
Mr Philip Hammond 29 *Clause 28, page 26, line 24, leave out 'have been reasonably' insert 'reasonably have been'.
Mr Philip Hammond 49 *Clause 31, page 28, line 10, leave out '16th March 2005' and insert '31st July 2005'.
Mr Philip Hammond 50 *Clause 31, page 28, line 12, leave out '16th March 2005' and insert '31st July 2005'.
Mr Philip Hammond 51 *Clause 31, page 28, line 15, leave out '15th March 2005' and insert '30th July 2005'.
Mr Philip Hammond 52 *Clause 31, page 28, line 17, leave out '16th March 2005' and insert '31st July 2005'.
Mr Philip Hammond 53 *Clause 31, page 28, line 22, leave out '16th March 2005' and insert '31st July 2005'.
Mr Philip Hammond 54 *Clause 31, page 28, line 24, leave out '16th March 2005' and insert '31st July 2005'.
Mr Philip Hammond 56 *Clause 31, page 28, line 24, leave out subparagraph (a).
Mr Philip Hammond 55 *Clause 31, page 28, line 26, leave out '31st August 2005' and insert '31st December 2005'.
NEW CLAUSESAdvance clearance
Mr Philip Hammond NC1 *To move the following Clause:—'(1) This Chapter shall not have effect in respect of any company falling within either section 24(1) or section 26(1), in any case where the commissioners for Her Majesty's Revenue and Customs have on application of the company notified the company that the Board are satisfied that the transaction does not have a main purpose of achieving a UK tax advantage. (2) Any application made under subsection (1) above shall be in writing, delivered either by post or by electronic mail, and shall contain particulars of the operations that are to be effected and the Commissioners may, within 30 days of the receipt of the application or of any further particulars previously required under this subsection, by notice require the applicant to furnish further particulars for the purpose of enabling the Commissioners to make their decision and if any such notice is not complied with within 30 days or such longer period as the Commissioners may allow, the Commissioners need not proceed further on the application. (3) The Board shall notify their decision to the applicant within 30 days of receiving the application or, if they give a notice under subsection (2) above, within 30 days of the notice being complied with. (4) If the Commissioners notify the applicant that they are not satisfied that the transaction in question does not have a main purpose of achieving a UK tax advantage or do not notify their decision to the applicant within the time required by subsection (3) above, the applicant may within 30 days of the due date for a decision in accordance with this section require the Commissioners to transmit the application, together with any notice given and further particulars furnished under subsection (2) above, to the Special Commissioners and in that event any notification by the Special Commissioners shall have effect for the purposes of subsection (1) above as if it were a notification by the Commissioners. (5) If any particulars furnished under this section do not fully and accurately disclose all facts and considerations material for the decision of the Commissioners or the Special Commissioners, any resulting notification of a decision by the Commissioners or Special Commissioners shall be void.'.
Right of appeal
Mr Philip Hammond NC2 *To move the following Clause:—
(2) If the Commissioners or the company are dissatisfied with the determination of the Special Commissioners the company or the Commissioners may, on giving notice to the clerk to the Special Commissioners within 30 days after the determination, require the appeal to be re-heard by the tribunal, and the Special Commissioners shall transmit to the tribunal any document in their possession which was delivered to them for the purposes of the appeal. (3) Where notice is given under subsection (2) above, the tribunal shall re-hear and re-determine the appeal and shall have and exercise the same powers and authorities in relation to the appeal as the Special Commissioners might have and exercise, and the determination of the tribunal thereon shall be final and conclusive. (4) On an appeal under subsection (1) and (3) above the Special Commissioners or the tribunal shall have power to cancel or vary a notice under section 24 or section 26 of this Act, or to vary or quash an assessment made in accordance with such a notice, but the bringing of an appeal or the statement of a case shall not affect the validity of a notice given or of any other thing done in pursuance of those sections pending the determination of the proceedings.'.
Treasury consent
Mr Philip Hammond NC3 *To move the following Clause:—
Mr Philip Hammond 57 *Schedule 11, page 155, line 27, at end insert—
Mr Philip Hammond 67 *Clause 71, page 59, line 18, at end insert '"the Tax Acts" means ICTA and the Corporation Tax Acts and the Income Tax Acts as defined in s. 831 of ICTA;'.
|
 | |
| |
| ©Parliamentary copyright 2005 | Prepared 17 Jun 2005 |