S.C.A.
Amendment Paper as at
Tuesday 20th June 2006
STANDING COMMITTEE A
FINANCE (NO. 2) BILL
(except Clauses 13 to 15, 26, 61, 91 and 106, Schedule 14, and new Clauses relating to the effect of provisions of the Bill on section 18 of the Inheritance Tax Act 1984)
NOTE
The amendments have been arranged in accordance with the Order of the Committee [9th May]
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
121
Schedule 21, page 141, line 12 [Vol II], leave out '50' insert '10'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
122
Schedule 21, page 142, line 33 [Vol II], leave out 'residential property' and insert 'property that is normally used or adapted for use as one or more dwellings'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
123
Schedule 21, page 142, line 34 [Vol II], leave out from 'is' to end of line 34 and add 'any personal chattels other than choses in action (or in Scotland any moveable property other than incorporeal moveable property).'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
124
Schedule 21, page 142, line 36 [Vol II], leave out paragraph 7.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
125
Schedule 21, page 143, line 11 [Vol II], at end insert 'but subject to paragraph 8(2)—'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
126
Schedule 21, page 143, line 22 [Vol II], after '(2)', insert 'Except where a member or related person as defined in section 4 is resident,'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
127
Schedule 21, page 145, line 12 [Vol II], leave out 'any' and insert 'the'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
128
Schedule 21, page 145 [Vol II], leave out lines 18 to 22.
Dawn Primarolo
393
Schedule 21, page 151, line 31 [Vol II], at beginning insert 'For the purposes of paragraph 23'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
129
Schedule 21, page 152, line 8 [Vol II], leave out '10% or more' and insert 'more than 10%'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
130
Schedule 21, page 152, line 10 [Vol II], leave out '10% or more' and insert 'more than 10%'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
133
Schedule 21, page 152, line 11 [Vol II], leave out '10% or more' and insert 'more than 10%'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
131
Schedule 21, page 154, line 34 [Vol II], leave out '(a) any member of the pension scheme'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
132
Schedule 21, page 159, line 27 [Vol II], leave out from 'occurs' to end of line 30 and insert—
| '(a) | the property becoming residential property;'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
141
Clause 160, page 134, line 39 [Vol I], leave out 'because' and insert 'following the receipt'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
142
Clause 160, page 135, line 1 [Vol I], leave out 'envisaged' and insert 'intended'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
143
Clause 160, page 135, line 7 [Vol I], leave out '1' and insert '10'.
Dawn Primarolo
381
Schedule 22, page 176, line 40 [Vol II], at end insert—
| 8A | | In section 233(1)(c) (interest on unpaid tax), for "or 126" substitute ", 126 or 151B".'. |
Dawn Primarolo
394
Schedule 23, page 180, line 36 [Vol II], leave out lines 36 to line 42 and insert—
'(a) where no employment of the member to which the pension scheme relates is or has been other than contracted-out employment by reference to the pension scheme, is 125% of the rate of the basic pension at that time or such higher percentage of that rate as the Treasury may by regulations prescribe,
(b) where no such employment of the member is or has been contracted-out employment by reference to the pension scheme, is 250% of the rate of the basic pension at that time or such higher percentage of that rate as the Treasury may by regulations prescribe, and
(c) otherwise, is such percentage of the rate of the basic pension at that time falling between the percentages for the time being specified under or by virtue of paragraphs (a) and (b) as the Treasury by regulations prescribe;
and regulations under paragraph (c) may prescribe different percentages for different cases.'.
Dawn Primarolo
395
Schedule 23, page 183, line 13 [Vol II], at end insert—
| '(4) | In sub-paragraph (7), for "an amount crystallised by" substitute "the relevant amount in the case of".'. |
Dawn Primarolo
396
Schedule 23, page 185, line 32 [Vol II], at end insert—
| 32A | (1) | Section 281 (minor and consequential amendments) is amended as follows. |
| (2) | After subsection (2) insert— |
| (3) | In subsection (3), after "(2) insert "or (2A)". |
| (4) | After that subsection insert— |
"(4) An order under subsection (2) or (2A) may include provision having effect in relation to times before it is made if it does not increase any person's liability to tax."
| 32B | (1) | Section 283 (transitionals and savings) is amended as follows. |
| (2) | After subsection (3) insert— |
"(3A) The Treasury may by order make any transitional provision which may appear appropriate in consequence of, or otherwise in connection with, any amendment (or repeal or revocation) made in this Part by any enactment contained in an Act passed after this Act (an "amending Act").
(3B) An order under subsection (3A) may, in particular, include savings from the effect of any amendment (or repeal or revocation) made by the amending Act.
(3C) An order under subsection (2) or (3A) may include provision having effect in relation to times before it is made if it does not increase any person's liability to tax."
| (3) | In subsections (4) and (5), after "(2)" insert "or (3A)".'. |
Dawn Primarolo
397
Schedule 23, page 190, line 26 [Vol II], leave out from 'for' to end of line 28 and insert ' "of a pension scheme" there were substituted "of any arrangement within paragraph 15A(4) under a pension scheme".'.
Dawn Primarolo
382
Schedule 25, page 198, line 39 [Vol II], at end insert—
| '() | At the end of that paragraph insert— |
"(7) The reference to a lease in sub-paragraph (1) is to—
(a) a lease actually granted on or after the implementation date, or
(b) a lease that is treated as existing by reason of a deemed grant under paragraph 12A(2) or 19(3) of which the effective date is on or after the implementation date."'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
184
Clause 168, page 138, line 20 [Vol I], leave out from second 'company' to end of lne 25 and insert 'in connection with demutualisation of an insurance company'.
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.'.
