S.C.B.
Amendment Paper as at
Thursday 23rd June 2005
STANDING COMMITTEE B
New Amendments handed in are marked thus *
FINANCE BILL
(Except Clauses 11, 18, 40, 43, 44 and 69 and Schedule 8)
NOTE
The Amendments have been arranged in accordance with the Order of the Committee[21st June], as follows—
Clauses 1 to 6, Schedule 1, Clauses 7 to 10, Clause 12, Schedule 2, Clauses 13 to 17, Clauses 19 to 24, Schedule 3, Clauses 25 to 34, Schedule 4, Clause 35, Schedule 5, Clauses 36 and 37, Schedule 6, Clauses 38 and 39, Schedule 7, Clauses 41 and 42, Schedule 9, Clauses 45 to 49, Schedule 10, Clauses 50 to 68, new Clauses, new Schedules, Clause 70, Schedule 11 and Clauses 71 and 72.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
16
Clause 24, page 21, line 5, leave out 'or may be'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
31
Clause 24, page 21, line 18, leave out 'or one of the main purposes'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
17
Clause 24, page 21, line 23, after second 'the', insert 'Special'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
18
Clause 24, page 21, line 26, at beginning insert 'Special'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
19
Clause 24, page 21, line 30, after 'the', insert 'Special'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
32
Clause 25, page 22, line 3, leave out 'no amount is' and insert 'an amount'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
33
Clause 25, page 22, line 4, after 'Acts', insert 'is reduced'.
Dawn Primarolo
70
Clause 25, page 22, line 5, leave out 'same expense' and insert 'expense in question'.
Dawn Primarolo
71
Clause 25, page 22, line 5, leave out from 'be' to 'for' in line 6 and insert 'otherwise deducted or allowed in computing the income, profits or losses of any person'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
35
Clause 25, page 22, line 11, leave out subsections (4) and (5).
Dawn Primarolo
72
Clause 25, page 22, line 11, leave out from 'amount' to 'for' in line 12 and insert 'otherwise deducted or allowed in computing the income, profits or losses of any person'.
Dawn Primarolo
73
Clause 25, page 22, line 34, leave out 'For the purposes' and insert 'Without prejudice to the generality'.
Dawn Primarolo
74
Clause 25, page 22, line 36, leave out 'is' and insert 'shall be treated for the purposes of subsection (6)(c) as'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
36
Clause 26, page 24, line 6, leave out 'E' and insert 'G'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
21
Clause 26, page 24, line 6, leave out 'or may be'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
38
Clause 26, page 24, line 22, after 'income', insert ', capital gain, or chargeable profits computed under setion 747(3) of ICTA,'.
Dawn Primarolo
75
Clause 26, page 24, line 35, after '(9)', insert 'or (9A)'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
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.'.
Dawn Primarolo
76
Clause 26, page 24, line 39, at end insert 'or'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
40
Clause 26, page 24, line 41, leave out 'a corresponding' and insert 'an'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
41
Clause 26, page 24, line 41, after 'period', insert 'ending within two years from the date on which the qualifying payment was made.'.
Dawn Primarolo
77
Clause 26, page 24, line 41, leave out from 'period' to end of line 45 and insert—
'(9A) This subsection applies to an amount that is taken into account in determining the debits and credits to be brought into account by a company for the purposes of Chapter 2 of Part 4 of FA 1996 as respects a share in another company by virtue of section 91A or 91B of FA 1996 (shares treated as loan relationships).'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
42
Clause 26, page 24, line 41, leave out 'or'.
Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley
43
Clause 26, page 24, line 45, after 'obligations)', insert ', and
