|
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
91
*Clause 54, page 41, line 31 [Vol I], leave out 'by reference to gifts made at any time' and insert 'only by reference to gifts made on or after that date'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
92
*Clause 56, page 43, line 20 [Vol I], leave out 'shall' and insert 'may at the election of the charity'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
93
*Clause 56, page 43, line 26 [Vol I], leave out 'shall' and insert 'may at the election of the charity'.
Dawn Primarolo
71
Clause 57, page 43 [Vol I], leave out line 36.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
94
*Page 44, line 3 [Vol I], leave out Clause 58.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
95
*Clause 58, page 44, line 11 [Vol I], at end insert—
'(3A) After subsection (3E) insert—
"(3F) Reliefs under this section shall be as follows—
| (a) | for donations not exceeding £100, 25 per cent. of the gift; |
| (b) | for donations exceedings £100 but not exceeding £1000, £25; and |
| (c) | for donations exceeding £1000, 2.5 per cent. of the gift up to a maximum of £2500.".'. |
Dawn Primarolo
66
Schedule 6, page 185, line 5 [Vol I], leave out sub-paragraph (1) and insert—
| '(1) | After section 85B of FA 1996 (amounts recognised in determining company's profit or loss) insert— |
"85C Amounts not fully recognised for accounting purposes
(1) This section applies if—
| (a) | a company is, or is treated as being, a party to a creditor relationship in any period, |
| (b) | an amount is not fully recognised for the period in respect of the creditor relationship, |
| (c) | the company is, or is treated as being, a party to a debtor relationship in the period or has at any time issued share capital which falls to be treated for accounting purposes as a liability (a "relevant accounting liability") for the period, |
| (d) | an amount is not fully recognised for the period in respect of the debtor relationship or relevant accounting liability, and |
| (e) | the amounts are not fully recognised as mentioned in paragraphs (b) and (d) as a result of the application of generally accepted accounting practice in relation to the creditor relationship and the debtor relationship or relevant accounting liability. |
(2) For the purposes of subsection (1) an amount is not fully recognised for the period in respect of any loan relationship or relevant accounting liability of the company if—
| (a) | no amount in respect of the relationship or liability is recognised in determining its profit or loss for the period, or |
| (b) | an amount in respect of only part of the relationship or liability is recognised in determining its profit or loss for the period. |
(3) In determining the credits and debits to be brought into account by the company in respect of the creditor relationship for the period for the purposes of this Chapter, the applicable assumption (see subsection (6)) must be made.
(4) In any case where the condition in subsection (1)(c) is met by reference to a debtor relationship of the company, in determining the credits and debits to be brought into account by the company in respect of that relationship for the period for the purposes of this Chapter, the applicable assumption must be made.
(5) But the amount of any debits to be brought into account by the company for any period for the purposes of this Chapter as a result of subsection (4) must not exceed the amount of any credits to be brought into account by the company for the period as a result of subsection (3).
(6) For the purposes of this section, in relation to any loan relationship, the applicable assumption is the assumption that an amount in respect of the whole of the relationship is recognised in determining the company's profit or loss for the period.
(7) In any case where—
| (a) | apart from this section any credits or debits are brought into account by the company in respect of any loan relationship for the period for the purposes of this Chapter, and |
| (b) | the relationship is one to which this section applies, |
the credits and debits to be so brought into account as a result of this section must be determined on the same basis of accounting on which the credits or debits mentioned in paragraph (a) were determined.
(8) In any other case, the credits and debits to be so brought into account as a result of this section must be determined on the amortised cost basis of accounting.".'.
Dawn Primarolo
67
Schedule 6, page 187, line 42 [Vol I], leave out 'relevant'.
Dawn Primarolo
68
Schedule 6, page 188 [Vol I], leave out lines 6 and 7.
Dawn Primarolo
69
Schedule 6, page 188, line 18 [Vol I], at end insert—
| '(5A) | The amendments made by sub-paragraphs (2) and (3) have effect in relation to any share held by a company on or after 12th May 2006 in any case where— |
(a) the share is redeemable for the purposes of section 91D of FA 1996 as a result of any arrangements mentioned in subsection (2)(b) of that section (as substituted by sub-paragraph (2)), and
(b) the arrangements were entered into after the company acquired the share.
| (5B) | But in that case, in relation to an accounting period beginning before 12th May 2006, amounts are to be brought into account for the purposes of Chapter 2 of Part 4 of FA 1996 as a result of those amendments only if the amounts relate to any time on or after that date.'. |
Dawn Primarolo
70
Schedule 6, page 188, line 19 [Vol I], at beginning insert 'In any other case,'.
Dawn Primarolo
73
Schedule 7, page 196, line 31 [Vol I], leave out 'the transfer and any associated operations' and insert 'such of the relevant transactions as were'.
Dawn Primarolo
74
Schedule 7, page 196, line 42 [Vol I], leave out from first 'to' to second 'the' in line 43 and insert 'relevant transactions by reference to which'.
Dawn Primarolo
75
Schedule 7, page 197, line 1 [Vol I], leave out 'other associated operations' and insert 'associated operations not falling within paragraph (a) above'.
Dawn Primarolo
76
Schedule 7, page 197, line 32 [Vol I], at end insert—
' "relevant transactions" means—
| (b) | any associated operations.'. |
NEW CLAUSES
Review of tobacco products duty
Mrs Theresa Villiers
Mr Mark Francois
Mark Hoban
Mr Paul Goodman
Andrew Selous
NC1
To move the following Clause:—
'The Chancellor of the Exchequer will publish a review in relation to the effectiveness of tobacco products duty before 1st March 2007 and will consult with organisations which have a special interest in tobacco products duty before publishing that review.'.
Review of hydrocarbon oil duties
Mrs Theresa Villiers
Mr Mark Francois
Mark Hoban
Mr Paul Goodman
Andrew Selous
NC2
To move the following Clause:—
'The Chancellor of the Exchequer will publish a review in relation to the effectiveness of hydrocarbon oil duties before 1st March 2007 and will consult with organisations which have a special interest in hydrocarbon oil duties before publishing that review.'.
Review of rates of gaming duty
Mrs Theresa Villiers
Mr Mark Francois
Mark Hoban
Mr Paul Goodman
Andrew Selous
NC3
To move the following Clause:—
'The Chancellor of the Exchequer will publish a review in relation to rates of gaming before 1st March 2007 and will consult with organisations which have a special interest in gaming before publishing that review.'.
Review of amusement machines
Mrs Theresa Villiers
Mr Mark Francois
Mark Hoban
Mr Paul Goodman
Andrew Selous
NC4
To move the following Clause:—
'The Chancellor of the Exchequer will publish a review in relation to classes of assessment machine and rates of duty before 1st March 2007 and will consult with organisations which have a special interest in gaming before publishing that review.'.
Cost of claims for R & D
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
NC5
To move the following Clause:—
'The Chancellor of the Exchequer will publish a review in relation to the cost of making claims for relief for research and development before 1st March 2007 and will consult with organisations which have a special interest in claims for relief for research and development.'.
Yield from fuel duty and VAT on fuel
Stewart Hosie
NC6
To move the following Clause:—
'In the Hydrocarbon Oil Duties Act 1979 (c.5) section 6 (excise duty on hydrocarbon oil) there is inserted after subsection (1A)—
"(1B) In the Budget Statement for 2007 and annually thereafter the Chancellor of the Exchequer shall provide a forecast for oil prices and set out anticipated yield from fuel duty and VAT on fuel for the forecast price and for a range of prices up to 50 oer cent above his forecast.
(1C) In his 2006 pre-budget report the Chancellor of the Exchequer shall bring forward a mechanism for using additional revenue from VAT on fuel above forecast to offset fuel duty when the oil price rises above his forecast level.
(1D) Whenever international oil prices rise above the level estimated by the forecast made in accordance with subsection (1B) above, any automatic increase in indexed fuel duty shall be frozen until international oil prices return to the forecast level.".'.
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