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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.’


 
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