| Amendments proposed to the Finance Bill - continued | House of Commons |
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Mr Philip Hammond 13 Clause 16, page 14, line 39, at end insert—'(4) In relation to an open-ended investment company mainly invested in interests or rights over land, the rate of corporation tax for the year 2005 and subsequent financial years may be determined under Regulations made under section 18 of this Act to be nil.'.
Mr Philip Hammond 15 Clause 24, page 21, line 4, leave out from 'the' to 'that' in line 5 and insert 'Special Commissioners find, on the balance of probability, following an application by the Commissioners for Her Majesty's Revenue and Customs'.
Mr Philip Hammond 16 Clause 24, page 21, line 5, leave out 'or may be'.
Mr Philip Hammond 31 Clause 24, page 21, line 18, leave out 'or one of the main purposes'.
Mr Philip Hammond 30 Clause 24, page 21, line 20, leave out from 'question' to end of line 21 and insert 'is significantly greater than it would have been if the relevant transaction was part of a qualifying scheme.'.
Mr Philip Hammond 17 Clause 24, page 21, line 23, after second 'the', insert 'Special'.
Mr Philip Hammond 18 Clause 24, page 21, line 26, at beginning insert 'Special'.
Mr Philip Hammond 19 Clause 24, page 21, line 30, after 'the', insert 'Special'.
Mr Philip Hammond 58 Clause 24, page 21, line 32, at end insert—'(8A) No notice may be issued pursuant to this section in respect of any transaction which is subject to the operation of any anti-avoidance provision already in force at the date of coming into force of this chapter. (8B) For the purposes of subsection (8A), anti-avoidance provisions include but are not limited to Chapter II of Part VI of ICTA, Part XVII of ICTA, and paragraph 13 of Schedule 9 to the FA 1996.'.
Mr Philip Hammond 46 Schedule 3, page 69, line 18, at end insert 'in so far as it applies to profits or gains not of a capital nature'.
Mr Philip Hammond 47 Schedule 3, page 69, line 19, after third 'tax', insert 'in so far as it applies to profits or gains not of a capital nature'.
Mr Philip Hammond 48 Schedule 3, page 69, line 25, at end insert 'and the instrument, shares, securities or debt instrument involved is not of a class of instrument, share, security or debt instrument which is traded upon a recognised stock exchange or upon a recognised investment exchange within the meaning of section 841 of ICTA,'.
Mr Philip Hammond 32 Clause 25, page 22, line 3, leave out 'no amount is' and insert 'an amount'.
Mr Philip Hammond 33 Clause 25, page 22, line 4, after 'Acts', insert 'is reduced'.
Mr Philip Hammond 34 Clause 25, page 22, line 10, at end insert—'and to the extent that the entitlement to such deduction or allowance had arisen as a result of a scheme the main purpose of which is to achieve a UK tax advantage.'.
Mr Philip Hammond 35 Clause 25, page 22, line 11, leave out subsections (4) and (5).
Mr Philip Hammond 20 Clause 26, page 24, line 5, leave out from 'the' to 'that' in line 6 and insert 'Special Commissioners find, on the balance of probability, following an application by the Commissioners for Her Majesty's Revenue and Customs,'.
Mr Philip Hammond 36 Clause 26, page 24, line 6, leave out 'E' and insert 'G'.
Mr Philip Hammond 21 Clause 26, page 24, line 6, leave out 'or may be'.
Mr Philip Hammond 38 Clause 26, page 24, line 22, after 'income', insert ', capital gain, or chargeable profits computed under setion 747(3) of ICTA,'.
Mr Philip Hammond 39 Clause 26, page 24, line 38, leave out from 'company' to end of line 39 and insert 'in an accounting period within two years from the date on which the qualifying payment was made.'.
Mr Philip Hammond 40 Clause 26, page 24, line 41, leave out 'a corresponding' and insert 'an'.
Mr Philip Hammond 41 Clause 26, page 24, line 41, after 'period', insert 'ending within two years from the date on which the qualifying payment was made.'.
Mr Philip Hammond 42 Clause 26, page 24, line 41, leave out 'or'.
Mr Philip Hammond 43 Clause 26, page 24, line 45, after 'obligations)', insert ', and
Mr Philip Hammond 44 Clause 26, page 25, line 2, leave out 'benefit' and insert 'UK tax advantage'.
Mr Philip Hammond 45 Clause 26, page 25, line 3, at end insert—'(10A) Condition F is that the main purpose of the scheme is to achieve a UK tax advantage for the company. (10B) Condition G is that the amount of the UK tax advantage in question is more than a minimal amount'.
Mr Philip Hammond 22 Clause 26, page 25, line 5, after second 'the', insert 'Special'.
Mr Philip Hammond 23 Clause 26, page 25, line 8, at beginning insert 'Special'.
Mr Philip Hammond 59 Clause 26, page 25, line 18, at end add—'(14) No notice may be issued pursuant to this section in respect of any transaction which is subject to the operation of any anti-avoidance provision already in force at the date of coming into force of this chapter. (15) For the purposes of subsection (14), anti-avoidance provisions include but are not limited to Chapter II of Part VI of ICTA, Part XVII of ICTA, and paragraph 13 of Schedule 9 to the FA 1996.'.
Mr Philip Hammond 37 Clause 27, page 25, line 24, leave out 'E' and insert 'G'.
Mr Philip Hammond 24 Clause 28, page 25, line 37, leave out from 'the' to 'give' in line 38 and insert 'Special Commissioners'.
Mr Philip Hammond 25 Clause 28, page 26, line 5, at beginning insert 'Special'.
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