House of Commons Public Bill Committee Proceedings

House of Commons

Session 2006 - 07
Internet Publications
Other Bills before Parliament

39

House of Commons

Tuesday 5th June 2007

Public Bill Committee Proceedings

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)

[eleventh and twelfth SITTINGs]

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Not moved  212

Clause  65,  page  42,  line  35,  at end insert—

‘(4)
An appeal shall lie to the Special Commissioners against a refusal to allow

making an election at a date after the relevant filing date and the Special

Commissioners shall allow such an appeal where the refusal to permit a late

election was unreasonable.’.

Clause Agreed to.

Clause 66 Agreed to.

Clause 68 Agreed to.

Mr Stephen Timms

Agreed to  134

Schedule  19,  page  228,  line  9,  leave out from ‘arrangement’ to end of line 11.

Mr Stephen Timms

Agreed to  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.’.

Schedule, as amended, Agreed to.

Public Bill Committee Proceedings: 5th June 2007
40

Finance Bill, continued

Clause 69 Agreed to.

Mr Stephen Timms

Agreed to  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).”

9B  (1)
Schedule 29 (authorised lump sums) is amended as follows.

      (2)
In paragraph 1(1) (conditions to be met if lump sum is to be pension

commencement lump sum)—

(a)
for paragraph (a) substitute—

“(a)
the member becomes entitled to it before reaching

the age of 75,

(aa)
the member becomes entitled to it in connection

with becoming entitled to a relevant pension (or

dies after becoming entitled to it but before

becoming entitled to the relevant pension in

connection with which it was anticipated that the

member would become entitled to it)”,

(b)
in paragraph (c), for “of three months beginning with” substitute

“beginning six months before, and ending one year after,”, and

(c)
omit paragraph (e) (but not including the “and” at the end).

      (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

Agreed to  137

Schedule  20,  page  238,  line  27,  after ‘9’ insert ‘to 9B’.

Schedule, as amended, Agreed to.

Public Bill Committee Proceedings: 5th June 2007
41

Finance Bill, continued

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Withdrawn  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

Not called  234

Clause  70,  page  44,  line  13,  leave out ‘its disposal by V’ and insert ‘the disposal

referred to in subsection (a) above’.

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Negatived on division  214

Clause  70,  page  44,  line  13,  at end insert—

‘(1A)
Transactions taking place more than three years before the acquisition of a

property by P shall be disregarded for the purposes of subsection (1).’.

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Not called  235

Clause  70,  page  44,  line  40,  leave out ‘the largest amount (or aggregate amount)’.

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Not called  236

Clause  70,  page  44,  line  42,  after ‘(a)’, insert ‘the largest amount’.

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Not called  237

Clause  70,  page  44,  line  44,  after ‘(b)’, insert ‘the aggregate amount’.

Public Bill Committee Proceedings: 5th June 2007
42

Finance Bill, continued

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Not called  238

Clause  70,  page  45,  line  7,  at end insert—

‘(c)
the exercise of a statutory right of enfranchisement, extension or

enlargement of a leasehold interest.’.

Mr Stephen Timms

Agreed to  184

Clause  70,  page  45,  line  20,  leave out ‘(but subject to subsection (2))’.

Mr Stephen Timms

Agreed to  185

Clause  70,  page  45,  line  29,  at end insert—

‘(3A)
In subsection (3)—

(a)
paragraph (a) is subject to subsection (2)(a) to (c),

(b)
paragraph (b) is subject to subsection (2)(a) and (c), and

(c)
paragraph (c) is subject to subsection (2)(a) to (c).’.

Mr Stephen Timms

Agreed to  186

Clause  70,  page  45,  line  31,  at end insert—

‘(5)
In this section a reference to the transfer of a chargeable interest from V to P

includes a reference to a disposal by V of an interest acquired by P.’.

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Not called  239

Clause  70,  page  46,  line  1,  leave out ‘and 75’ and insert ‘75, and Schedule 7, Part

1’.

Mr Stephen Timms

Agreed to  187

Clause  70,  page  46,  line  2,  at end insert—

‘(4A)
In the application of section 75A(5) an amount given or received partly in respect

of the chargeable interest acquired by P and partly in respect of another

chargeable interest shall be subjected to just and reasonable apportionment.’.

Mr Stephen Timms

Agreed to  188

Clause  70,  page  46,  line  7,  after first ‘a’ insert ‘property-investment’.

Mr Stephen Timms

Agreed to  189

Clause  70,  page  46,  line  7,  after ‘partnership’ insert ‘(within the meaning of

paragraph 14 of Schedule 15)’.

Public Bill Committee Proceedings: 5th June 2007
43

Finance Bill, continued

Mr Stephen Timms

Agreed to  190

Clause  70,  page  46,  line  21,  at end insert ‘and may make provision with

retrospective effect.”’.

Mr Stephen Timms

Agreed to  191

Clause  70,  page  46,  line  25,  after ‘But’ insert—

‘(a)
’.

Mr Stephen Timms

Agreed to  192

Clause  70,  page  46,  line  28,  at end insert—


‘, and

(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.’.

Clause, as amended, Agreed to.

Mr Stephen Timms

Agreed to  106

Clause  71,  page  47,  line  9,  leave out ‘sub-paragraph (1)(b),’ and insert ‘sub-

paragraphs (1)(b) and (4),’.

Mr Stephen Timms

Agreed to  243

Clause  71,  page  48,  line  26,  at end insert—

‘(13A)
But the amendments made by subsections (6) and (10) do not have effect in

respect of anything done in respect of a property-investment partnership

established before the day on which this Act is passed if—

(a)
the partnership does not acquire a chargeable interest on or after that day,

and

(b)
stamp duty land tax was paid in respect of each chargeable interest

acquired before that day, by reference to chargeable consideration of not

less than the market value.’.

Mr Stephen Timms

Agreed to  244

Clause  71,  page  48,  line  30,  leave out ‘and’ and insert ‘to’.

Clause, as amended, Agreed to.

Clause 72 Agreed to.

Public Bill Committee Proceedings: 5th June 2007
44

Finance Bill, continued

Mr Stephen Timms

Agreed to  193

Schedule  21,  page  239,  line  13,  at end insert ‘and’.

Mr Stephen Timms

Agreed to  194

Schedule  21,  page  239,  line  16,  leave out from ‘Commissioners’ to end of line 18.

Mr Stephen Timms

Agreed to  195

Schedule  21,  page  239,  line  33,  at end insert ‘and’.

Mr Stephen Timms

Agreed to  196

Schedule  21,  page  239,  leave out lines 35 to 37.

Mr Stephen Timms

Agreed to  197

Schedule  21,  page  240,  line  12,  at end insert ‘and’.

Mr Stephen Timms

Agreed to  198

Schedule  21,  page  240,  leave out lines 14 to 16.

Mr Stephen Timms

Agreed to  199

Schedule  21,  page  240,  line  45,  at end insert ‘and’.

Mr Stephen Timms

Agreed to  200

Schedule  21,  page  240,  leave out lines 47 to 49.

Mr Stephen Timms

Agreed to  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

Agreed to  202

Schedule  21,  page  242,  line  18,  at end insert ‘and’.

Mr Stephen Timms

Agreed to  203

Schedule  21,  page  242,  line  22,  leave out from ‘(“the Commissioners”)’ to end of

line 24.

Mr Stephen Timms

Agreed to  204

Schedule  21,  page  242,  line  37,  at end insert ‘and’.

Public Bill Committee Proceedings: 5th June 2007
45

Finance Bill, continued

Mr Stephen Timms

Agreed to  205

Schedule  21,  page  242,  line  39,  leave out from ‘market’ to end of line 41.

Mr Stephen Timms

Agreed to  206

Schedule  21,  page  243,  line  11,  at end insert ‘and’.

Mr Stephen Timms

Agreed to  207

Schedule  21,  page  243,  line  13,  leave out from ‘market’ to end of line 15.

Mr Stephen Timms

Agreed to  208

Schedule  21,  page  243,  line  42,  at end insert ‘and’.

Mr Stephen Timms

Agreed to  209

Schedule  21,  page  243,  line  44,  leave out from ‘market’ to end of line 46.

Mr Stephen Timms

Agreed to  210

Schedule  21,  page  244,  line  41,  after second ‘time’ insert ‘is a member State or any

other State which at that time’.

Schedule, as amended, Agreed to.

Clause 73 to 80 Agreed to.

Clause 85 and 86 Agreed to.

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evenett

Withdrawn  247

Clause  87,  page  61,  line  8,  at end insert ‘or within a reasonable time thereafter

when an electronic return cannot be delivered by reason of the failure or non availability

of an official computer system as defined in Regulation 189 of the Income Tax (Pay as

You Earn) Regulations 2003’.

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evenett

Not called  245

Clause  87,  page  61,  line  8,  at end insert—

‘(c)
on or before 31st January for a non-electronic return, if submitted by a

person who is registered blind.’