| Amendments proposed to the Finance Bill - continued | House of Commons |
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Mr Philip Hammond 98 Schedule 10, page 146, line 6, leave out 'that does not consist wholly or mainly of dealing in chargeable interests'.
Mr Philip Hammond 99 Schedule 10, page 147, line 34, at beginning insert 'Subject to sub-paragraph (5)'.
Mr Philip Hammond 100 Schedule 10, page 147, line 41, at end add—
Mr Philip Hammond 101 Schedule 10, page 149, line 23, leave out paragraph 15.
Mr Philip Hammond 146 Schedule 10, page 151, line 1, leave out paragraph 19.
Mr Philip Hammond 102 Schedule 10, page 151, line 9, after 'duty', insert 'stamp duty reserve tax and stamp duty land tax.'.
Mr Philip Hammond 147 Schedule 10, page 151, line 9, leave out 'income tax, corporation tax, capital gains tax or tax under this Part' .
Mr Philip Hammond 103 Schedule 10, page 151, line 9, leave out 'corporation tax, capital gains tax or tax under this Part'.
Mr Philip Hammond 148 Clause 51, page 42, line 12, after 'State', insert 'and'.
Mr Philip Hammond 149 Clause 51, page 42, leave out lines 13 and 14.
Mr Philip Hammond 150 Clause 51, page 43, leave out line 18.
Mr Philip Hammond 151 Clause 51, page 43, leave out line 45.
Mr Philip Hammond 152 Clause 52, page 44, leave out line 21.
Mr Philip Hammond 153 Clause 53, page 45, leave out line 20.
Mr Philip Hammond 154 Clause 54, page 46, leave out line 34.
Mr Philip Hammond 155 Clause 54, page 47, line 28, at end add 'and section 138 of TCGA 1992 (clearance in advance) shall apply to this sub-paragraph as it applies to section 137 of that Act (with any necessary modifications).'.
Mr Philip Hammond 156 Clause 55, page 48, leave out line 2.
Mr Philip Hammond 157 Clause 55, page 48, line 29, after 'a', insert 'formation of an SE by'.
Mr Philip Hammond 158 Clause 55, page 48, line 39, at end add 'and section 138 of TCGA 1992 (clearance in advance) shall apply to this sub-paragraph as it applies to section 137 of that Act (with any necessary modifications).'.
Mr Philip Hammond 159 Clause 56, page 49, line 5, leave out ' a qualifying' and insert 'an'
Dawn Primarolo 144 Clause 56, page 49, line 7, after 'applies', insert '(or would apply but for section 140E(1)(d)).'.
Dawn Primarolo 145 Clause 56, page 49, leave out lines 17 and 18 and insert—'(3) For the purposes of subsection (1) an asset is a "qualifying asset" if—
Mr Philip Hammond 160 Clause 56, page 49, leave out lines 17 and 18.
Mr Philip Hammond 161 Clause 65, page 54, line 11, leave out 'resident in the United Kingdom'.
Mr Philip Hammond 162 Clause 65, page 54, line 19, leave out from 'the' to end of line 24 and insert 'most recent relevant event in relation to the company from which the asset was so transferred;".'.
Mr Philip Hammond 163 Clause 65, page 54, line 28, leave out subsections (4) and (5).
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:—
Pension scheme regulation
Chris Huhne NC4 To move the following Clause:—'(1) Section 158 of the Finance Act 2004 is amended as follows. (2) At the end of subsection (1)(f) insert—
Mr Philip Hammond 57 Schedule 11, page 155, line 27, at end insert—
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