Thursday 24th May 2007
Public Bill Committee
Finance Bill
(except Clauses 1, 3, 7, 8, 12, 20, 21, 25,
67 and 81 to 84, Schedules 1, 18, 22 and 23, and
New Clauses relating to Microgeneration)
Note
The amendments have been arranged in accordance with the Order
of the Committee [8th May].
Mr Stephen Timms
159
Clause 60, page 41, line 5, leave
out ‘19(4)’ and insert ‘19’.
Mr Stephen Timms
160
Clause 60, page 41, line 6, after
‘fees)’ insert ‘—
Mr Stephen Timms
161
Clause 60, page 41, line 9, leave
out from ‘company’ to end of line 10 and insert ‘throughout
a period during which it created the whole or greater part (in terms
of value) of the intangible asset.”, and
Mr Stephen Timms
162
Clause 60, page 41, line 11, leave
out ‘amendment made by subsection (1) has’ and insert ‘amendments
made by subsection (1) have’.
Mr Stephen Timms
163
Clause 60, page 41, line 13, leave
out ‘It also has’ and insert ‘They also have’.
Mr Stephen Timms
164
Clause 60, page 41, line 30, leave
out ‘amendment’ and insert ‘amendments’.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Mr David Evennett
211
Clause 65, page 42, line 28, at
end insert—
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Mr David Evennett
119
Clause 65, page 42, line 35, at
end insert—
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Mr David Evennett
212
Clause 65, page 42, line 35, at
end insert—
Mr Stephen Timms
134
Schedule 19, page 228, line 9, leave
out from ‘arrangement’ to end of line 11.
Mr Stephen Timms
135
Schedule 19, page 228, line 43, leave
out from ‘paid’ to end of line 2 on page 229 and insert
‘in respect of members of schemes whose deaths occur on or after
6th April 2007.’.
Mr Stephen Timms
136
Schedule 20, page 232, line 25, leave
out paragraph 9 and insert—
‘9 In section 166(2)(a) (when person becomes entitled
to pension commencement lump sum), after “paid” insert “(or,
if the person dies before becoming entitled to the pension in connection
with which it was anticipated it would be paid, immediately before death)”.
9A In section 219(7) (multiple benefit crystallisation
events occuring by reason of payment of lump sum death benefits treated
as occurring immediately before death), insert at the end “but
immediately after any benefit crystallisation event occurring immediately
before the individual’s death by virtue of section 166(2).”
(b) in paragraph (c), for “of three months
beginning with” substitute “beginning six months before,
and ending one year after,”, and
(3) In paragraph 2 (“permitted maximum”),
after sub-paragraph (5) insert—
“(5A) But if the member dies before becoming
entitled to the relevant pension in connection with which it was anticipated
that the member would become entitled to the lump sum, the permitted
maximum is the available portion of the member’s lump sum allowance.”.’.
Mr Stephen Timms
137
Schedule 20, page 238, line 27, after
‘9’ insert ‘to 9B’.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Mr David Evennett
213
Clause 70, page 44, line 7, leave
out from ‘a’ to ‘the’ in line 9 and insert ‘pre-ordained
series of transactions is carried out in connection with the disposal
and acquisition, and it is undertaken in pursuance of a scheme or arrangement
the only or main purpose of which is the avoidance or reduction of Stamp
Duty Land Tax payable on the acquisition by P or to secure or increase
a repayment of Stamp Duty Land Tax in relation to that acquisition.’.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Mr David Evennett
214
Clause 70, page 44, line 13, at
end insert—
Mr Stephen Timms
184
Clause 70, page 45, line 20, leave
out ‘(but subject to subsection (2))’.
Mr Stephen Timms
185
Clause 70, page 45, line 29, at
end insert—
Mr Stephen Timms
186
Clause 70, page 45, line 31, at
end insert—
Mr Stephen Timms
187
Clause 70, page 46, line 2, at
end insert—
Mr Stephen Timms
188
Clause 70, page 46, line 7, after
first ‘a’ insert ‘property-investment’.
Mr Stephen Timms
189
Clause 70, page 46, line 7, after
‘partnership’ insert ‘(within the meaning of paragraph
14 of Schedule 15)’.
Mr Stephen Timms
190
Clause 70, page 46, line 21, at
end insert ‘and may make provision with retrospective effect.”’.
Mr Stephen Timms
191
Clause 70, page 46, line 25, after
‘But’ insert—
Mr Stephen Timms
192
Clause 70, page 46, line 28, at
end insert—
(b) a provision of new section 75C (inserted by subsection
(1) above) shall not have effect where the disposal mentioned in new
section 75A(1)(a) took place before the day on which this Act is passed,
if or in so far as the provision would make a person liable for a higher
amount of tax than would have been charged in accordance with those
regulations.’.
Mr Stephen Timms
106
Clause 71, page 47, line 9, leave
out ‘sub-paragraph (1)(b),’ and insert ‘sub-paragraphs
(1)(b) and (4),’.
Mr Stephen Timms
193
Schedule 21, page 239, line 13, at
end insert ‘and’.
Mr Stephen Timms
194
Schedule 21, page 239, line 16, leave
out from ‘Commissioners’ to end of line 18.
Mr Stephen Timms
195
Schedule 21, page 239, line 33, at
end insert ‘and’.
Mr Stephen Timms
196
Schedule 21, page 239, leave
out lines 35 to 37.
Mr Stephen Timms
197
Schedule 21, page 240, line 12, at
end insert ‘and’.
Mr Stephen Timms
198
Schedule 21, page 240, leave
out lines 14 to 16.
Mr Stephen Timms
199
Schedule 21, page 240, line 45, at
end insert ‘and’.
Mr Stephen Timms
200
Schedule 21, page 240, leave
out lines 47 to 49.
Mr Stephen Timms
201
Schedule 21, page 241, line 43, after
second ‘time’ insert ‘is a member State or any other
State which at that time’.
Mr Stephen Timms
202
Schedule 21, page 242, line 18, at
end insert ‘and’.
Mr Stephen Timms
203
Schedule 21, page 242, line 22, leave
out from ‘(“the Commissioners”)’ to end of line
24.
Mr Stephen Timms
204
Schedule 21, page 242, line 37, at
end insert ‘and’.
Mr Stephen Timms
205
Schedule 21, page 242, line 39, leave
out from ‘market’ to end of line 41.
Mr Stephen Timms
206
Schedule 21, page 243, line 11, at
end insert ‘and’.
Mr Stephen Timms
207
Schedule 21, page 243, line 13, leave
out from ‘market’ to end of line 15.
Mr Stephen Timms
208
Schedule 21, page 243, line 42, at
end insert ‘and’.
Mr Stephen Timms
209
Schedule 21, page 243, line 44, leave
out from ‘market’ to end of line 46.
Mr Stephen Timms
210
Schedule 21, page 244, line 41, after
second ‘time’ insert ‘is a member State or any other
State which at that time’.
Mr Stephen Timms
215
# Schedule 24, page 260, line 33, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
2
Schedule 24, page 260, line 33, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
216
# Schedule 24, page 262, line 18, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
3
Schedule 24, page 262, line 18, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
217
# Schedule 24, page 262, line 18, leave
out ‘them,’ and insert ‘HMRC,’.
Mr Stephen Timms
218
# Schedule 24, page 262, line 41, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
4
Schedule 24, page 262, line 41, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
219
# Schedule 24, page 265, line 22, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
5
Schedule 24, page 265, line 22, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
220
# Schedule 24, page 265, line 24, leave
out ‘HMRC think’.
Mr Stephen Timms
221
# Schedule 24, page 265, line 26, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
6
Schedule 24, page 265, line 26, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
222
# Schedule 24, page 265, line 28, leave
out ‘HMRC think’.
Mr Stephen Timms
223
# Schedule 24, page 265, line 30, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
7
Schedule 24, page 265, line 30, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
224
# Schedule 24, page 265, line 32, leave
out ‘HMRC think’.
Mr Stephen Timms
225
# Schedule 24, page 265, line 34, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
8
Schedule 24, page 265, line 34, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
226
# Schedule 24, page 265, line 36, leave
out ‘HMRC think’.
Mr Stephen Timms
227
# Schedule 24, page 265, line 38, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
9
Schedule 24, page 265, line 38, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
228
# Schedule 24, page 265, line 40, leave
out ‘HMRC think’.
Mr Stephen Timms
229
# Schedule 24, page 265, line 42, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
10
Schedule 24, page 265, line 42, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
230
# Schedule 24, page 265, line 44, leave
out ‘HMRC think’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
11
Schedule 24, page 266, line 2, leave
out ‘think it right’ and insert ‘have reasonable grounds
for believing it to be necessary’.
Mr Stephen Timms
231
# Schedule 24, page 267, line 10, leave
out ‘HMRC think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
12
Schedule 24, page 267, line 10, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
232
# Schedule 24, page 267, line 19, leave
out ‘they think that’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
13
Schedule 24, page 267, line 19, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
233
# Schedule 24, page 269, line 9, leave
out ‘HMRC think’.
Julia Goldsworthy
Dr Vincent Cable
Mr Colin Breed
14
Schedule 24, page 269, line 9, leave
out ‘think’ and insert ‘have reasonable grounds for
believing’.
Mr Stephen Timms
118
Schedule 26, page 281, line 17, at
end insert—
‘8A In paragraph 4(2C)(b) of Schedule 26 to FA
2002 (derivative contracts: contracts excluded by virtue of their underlying
subject matter), for “quoted” substitute “listed”.’.
NEW CLAUSES
Charge on benefits received by former owner of
property
Mrs Theresa Villiers
Mr Mark Hoban
Mr Mark Francois
Mr Paul Goodman
Mr David Evennett
NC1
Trustee residence
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Mr David Evennett
NC2
Mr Stephen Timms
94
Schedule 27, page 293, line 38, column 2, leave
out ‘2(2) to (5),’ and insert ‘2(2) and (3) to (5),’.
Mr Stephen Timms
95
Schedule 27, page 294, line 44, column 2, leave
out ‘3,’.
Mr Stephen Timms
96
Schedule 27, page 294, column 2, leave
out line 49.
Mr Stephen Timms
107
Schedule 27, page 299, line 36, leave
out ‘14(1)(b),’ and insert ‘14(1)(b) and (4),’.
ORDER OF THE HOUSE [23RD APRIL 2007]
(1) Clauses Nos. 1, 3, 7, 8, 12, 20, 21, 25, 67 and
81 to 84, Schedules Nos 1, 18, 22 and 23, and new Clauses relating to
microgeneration be committed to a Committee of the whole House;
RESOLUTION OF THE COMMITTEE [8TH MAY 2007]
(a) on Tuesdays at 10.30 a.m. and 4.30 p.m., and
(b) on Thursdays at 9.00 a.m. and 1.00 p.m.,
ORDER OF THE COMMITTEE [8TH MAY 2007]
That the order in which proceedings are taken shall be:
Clause 2, Clauses 4 to 6, Clauses 9 to 11, Clauses 13 to 19, Clauses
22 and 23; Schedule 2; Clause 24; Schedule 3; Clause 26; Schedule 4;
Clauses 27 to 29; Schedule 5; Clause 30; Schedule 6; Clauses 31 to 37;
Schedule 7; Clause 38; Schedule 8; Clause 39; Schedule 9; Clause 40;
Schedule 10; Clause 41; Schedule 11; Clauses 42 and 43; Schedule 12;
Clauses 44 to 46; Schedules13 and 14; Clause 47; Schedule 15; Clause
48 to 50; Schedule 16; Clause 51; Schedule 17; Clauses 52 to 66; Clause
68; Schedule 19; Clause 69; Schedule 20; Clauses 70 to 72; Schedule
21; Clauses 73 to 80; Clauses 85 to 96; Schedule 24; Clauses 97 to 104;
Schedule 25; Clauses 105 to 108; Schedule 26; Clauses 109 and 110; new
Clauses; new Schedules; Clauses 111 and 112; Schedule 27; and Clause
113.
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