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| (Clauses 11, 18, 40, 43, 44 and 69 and Schedule 8)
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| Mr Chancellor of the Exchequer |
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| | To move, That the Order in which proceedings in the Committee of the whole House |
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| | on the Finance Bill are to be taken shall be Clauses 11, 18 and 40, Schedule 8, Clauses 43, |
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| Clause 11, page 11, line 40, at end insert— |
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| | ‘(h) | interactive experiments with an educational purpose.’. |
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| Clause 11, page 12, line 1, leave out ‘one year’ and insert ‘three months’. |
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| Clause 11, page 12, line 8, after ‘family’, insert ‘or of that person and an |
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| accompanying group of no more than twenty individuals.’. |
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| Clause 18, page 17, line 9, at end insert— |
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| | ‘(i) | in relation to unit trust schemes and open-ended investment companies |
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| | mainly invested in interests or rights in or over land, determine the rate |
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| | of corporation tax for the year 2005 and subsequent financial years to be |
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| | nil, or the rate at which income tax at the lower rate is charged for year |
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| | of assessment which begins on 6th April in the financial year concerned. |
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| | (j) | include provision for unit trust schemes and open-ended investment |
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| | companies to have different classes of units or shares, and to allow |
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| | different distributions to be made in respect of such different classes |
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| | subject always to any rules preventing discrimination between unit |
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| | holders or shareholders made under section 64(2)(e).’. |
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| Clause 18, page 17, line 21, at end insert— |
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| | ‘(f) | make special provision for any interest or rights in or over land held by a |
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| | unit trust scheme or open-ended investment company and may make |
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| | special provision for withholding tax on distributions from an authorised |
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| | investment fund, mainly invested in interests or rights over land, and may |
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| | determine specific circumstances when such tax must be withheld.’. |
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| Schedule 8, page 124, line 23, leave out ‘in relation to the financing arrangements’. |
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| Schedule 8, page 124, leave out lines 29 and 30. |
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| Schedule 8, page 124, line 32, leave out ‘the’. |
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| Schedule 8, page 124, line 33, after ‘arrangements’, insert ‘for A’. |
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| Schedule 8, page 125, leave out lines 3 and 4. |
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| Schedule 8, page 125, line 5, leave out ‘B’ and insert ‘One of the affected persons |
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| Schedule 8, page 125, line 6, leave out ‘the’. |
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| Schedule 8, page 125, line 7, after ‘arrangements’, insert ‘for B’. |
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| Schedule 8, page 125, line 9, leave out ‘person’ and insert ‘persons’. |
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| Schedule 8, page 125, line 34, after ‘provision’, leave out ‘relates to’ and insert |
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| ‘has been made or imposed in connection with’. |
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| Schedule 8, page 125, line 35, at end insert ‘and would not have been made or |
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| imposed in the absence of those financing arrangements’. |
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| Schedule 8, page 125, line 35, at end insert— |
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| | ‘(8) | This paragraph shall apply only to a person where that person, or a connected |
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| | party to that person, owns shares or an interest in shares, in either A or B.’. |
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| Schedule 8, page 125, line 45, leave out from beginning to end of line 23 on page |
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| Schedule 8, page 126, line 23, at end insert— |
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| | ‘(6) | after paragraph 13 insert— |
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| | “Transfer pricing guidelines |
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| | | Schedule 28AA ICTA 1988 is amended as follows. |
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| | 13A | The Treasury may for the purposes of paragraph 4A Schedule 28AA ICTA 1988, |
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| | (1) | make provisions determining what may constitute arm’s length provision |
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| | for any financing arrangement, by making reference to— |
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| | (b) | debt: equity ratios in respect of a company’s financing |
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| | arrangements as defined in paragraph 4A. |
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| | (2) | Under subparagraph (1) different provisions may be made for different |
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| | 13B (1) | Where, for an accounting period, the financing arrangements of a |
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| | company or group of companies come within the parameters set in the |
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| | regulations made in accordance with paragraph 13A then paragraph 5(1) |
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| | of this Schedule shall not apply to such financing arrangements unless |
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| | they differ from the financing arrangements that would have been made |
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| | as between independent enterprises. |
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| | (2) | For the purposes of this paragraph and paragraph 13A of this Schedule, |
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| | “financing arrangements” means arrangements made for providing or |
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| | guaranteeing, or otherwise in connection with, any debt, capital or other |
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| Schedule 8, page 126, line 23, at end insert— |
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| | ‘( ) | Paragraph 5D shall be amended as follows—
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| | Leave out subparagraphs (1) to (6) and replace with— |
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| | “(1) | Small enterprise means an enterprise that has no more than 50 staff, |
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| | and either an annual turnover in the preceding accounting period or |
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| | a net asset value at the end of the preceeding accounting period of |
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| | (2) | Medium enterprise means an enterprise that has no more than 250 |
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| | staff, and either an annual turnover in the preceding accounting |
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| | period of less than £35 million or a net asset value at the end of the |
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| | preceding accounting period of less than £30 million. |
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| | (3) | “Annual turnover” and “net asset value” shall be defined in |
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| | accordance with generally accepted accounting practice. |
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| | (4) | The number of staff shall be determined on the basis that staff that |
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| | are not full time should be counted at the appropriate fraction.”.’. |
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| Schedule 8, page 126, line 25, leave out paragraph 2. |
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| Schedule 8, page 127, line 5, leave out from ‘time’ to end of line 7. |
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| Schedule 8, page 127, line 7, after ‘the’, insert ‘accounting period immediately |
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| Schedule 8, page 127, line 16, leave out from ‘satisfied’ to end of line 18. |
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| Schedule 8, page 127, line 18, after ‘the’, insert ‘accounting period immediately |
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| Schedule 8, page 127, line 23, leave out from ‘1988’ to end of line 25. |
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| Schedule 8, page 127, line 26, leave out paragraph 3. |
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| Schedule 8, page 128, line 5, after ‘the’, insert ‘immediately preceding |
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| Schedule 8, page 128, line 17, after ‘the’, insert ‘immediately preceding |
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| Schedule 8, page 128, line 39, leave out sub-paragraph (3). |
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| Schedule 8, page 129, line 3, leave out ‘or (3)’. |
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| Schedule 8, page 129, line 11, leave out ‘or (3)’. |
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