 House of Commons |
Publications on the internet Index of Amendments |
|
S.C.A.
Amendment Paper as at
| |||||||||||||||||||||||||||
| '(2) | No person is to be treated as receiving an amount of income, or as incurring an expense, as a result of any provision of this Schedule in so far as the income or expense arises by reference to the relevant plant or machinery subject to a lease which is disposed of. |
| (2A) | If, as a result of sub-paragraph (2), no income is treated as received by a company, no accounting period of the company ends or begins as a result of any provision of this Schedule. |
| (2B) | In relation to any disposal made before 2nd June 2006— |
(a) sub-paragraph (2) applies as if the words from "in so far as" to the end were omitted, and
(b) sub-paragraph (2A) applies as if the words from "If" to "a company," and the words "of the company" were omitted.'.
Dawn Primarolo
96
Clause 84, page 79, line 18 [Vol I], leave out from first 'the' to 'all' in line 19 and insert 'lessor remains entitled immediately after the disposal to some or'.
Dawn Primarolo
97
Clause 84, page 79, line 37 [Vol I], leave out from second 'the' to end of line 38 and insert 'lessor remains entitled immediately after the disposal'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
170
Schedule 11, page 22, line 3 [Vol II], leave out from beginning to end of line 16.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
171
Schedule 11, page 22 [Vol II], leave out lines 8 to 16 and insert—'(2) Accordingly, in section 432A of ICTA 1988 in subsection (5) (power to extend orders under subsection (3) in relation to periods of account ending before 1st October 2007), substitute "1st October 2006" with "1st October 2007".'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
193
Schedule 11, page 22, line 30 [Vol II], at end insert—
| '2A | (1) | Sections 439B and 441 ICTA 1988 shall cease to have effect and section 436 shall be amended by substituting "Gross Roll-up Business" for "Pension Business" in each place that it occurs. |
| (2) | "Gross Roll-up Business" means all long-term business written other than Basic Life Assurance, General Annuity Business and Permanent Health Insurance.'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
172
Schedule 11, page 29, line 30 [Vol II], leave out from beginning to end of line 41 on page 30.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
173
Schedule 11, page 33, line 18 [Vol II], leave out paragraph 7.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
179
Schedule 11, page 33, line 40 [Vol II], at end insert—'(3A) Where the line 51 amount for the straddling period is greater than the line 51 amount for any subsequent period, and the line 51 amount is then increased in a period following that subsequent period, the adjustment produced by subsection (3) above shall be reduced by an amount equal to the lower of:
| (a) | the difference between the line 51 amount for the straddling period and the line 51 amount for the current period of account; and |
| (b) | the line 51 amount for the current period of account, and the line 51 amount for the immediately preceding period, |
but the amount computed under this subsection shall be reduced by the total sum of adjustments made in periods prior to the current period of account under this subsection.'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
174
Schedule 11, page 34, line 39 [Vol II], at end insert—'(12) Where this section applies then the company may make a claim requiring that a loss arising under section 436, 439B and sections 441 ICTA 1988 be set off against profits of the same description arising in the proceeding accounting period.'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
180
Schedule 11, page 35, line 9 [Vol II], leave out 'to' and insert 'from'.
Dawn Primarolo
195
Schedule 11, page 35, line 9 [Vol II], leave out 'to' and insert 'by'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
183
Schedule 11, page 35, line 16 [Vol II], leave out from beginning to end of line 19 and insert—
| '(b) | the line 51 amount of the transfer or in respect of the business transferred to the company, as computed in the transferor's periodic return.'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
181
Schedule 11, page 35, line 41 [Vol II], leave out 'to' and insert 'from'.
Dawn Primarolo
196
Schedule 11, page 35, line 41 [Vol II], leave out 'to' and insert 'by'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
182
Schedule 11, page 35, line 43 [Vol II], leave out 'to' and insert 'from'.
Dawn Primarolo
197
Schedule 11, page 35, line 43 [Vol II], leave out 'to' and insert 'by'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
176
Schedule 11, page 37, line 1 [Vol II], leave out 'two-thirds' and insert 'one-sixth'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
177
Schedule 11, page 37, line 5 [Vol II], leave out 'one-third' and insert 'one-sixth'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
178
Schedule 11, page 37, line 6 [Vol II], leave out 'period' and insert 'five periods'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
198
Schedule 12, page 41, line 45 [Vol II], leave out paragraph 2.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
186
Schedule 13, page 66, line 19 [Vol II], leave out paragraph 2.
Dawn Primarolo
191
Schedule 13, page 68 [Vol II], leave out lines 6 to 8.
Dawn Primarolo
192
Schedule 13, page 72, line 9 [Vol II], at end insert—
| '(1A) | For section 623 of ITTOIA 2005 (calculation of income) substitute— |
"623 Calculation of income
| For the purpose of calculating liability to tax under this Chapter (but for no other purpose), a settlor shall be allowed the same deductions and reliefs as if any amount treated under this Chapter as income of the settlor had actually been received by the settlor."'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
135
Clause 92, page 84, line 34 [Vol I], leave out subsection (2).
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
136
Clause 92, page 84, line 35 [Vol I], leave out 'insert at the beginning "securities"' and insert 'after "options", insert "other than an option which is acquired pursuant to a right or opportunity made available under arrangements the main purpose (or one of the main purposes) of which is the avoidance of income tax or national insurance contributions".'.
| |
| ©Parliamentary copyright 2006 | Prepared 6 Jun 2006 |