House of Commons Public Bill Committee Proceedings

House of Commons

Session 2006 - 07
Internet Publications
Other Bills before Parliament

51

House of Commons

Thursday 7th 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)

[thirteenth and fourteenth SITTINGs]

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

Mr David Evennett

Withdrawn  251

Clause  97,  page  68,  line  20,  after ‘above’, insert ‘in respect of any supply made

after the date on which the order has effect.’.

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

Mr David Evennett

Not called  252

Clause  97,  page  68,  line  22,  at end add—

‘(9C)
An order may not be made under this subsection unless a draft of the statutory

instrument containing the order has been laid before, and approved by a

resolution of, the House of Commons.’.

Clause Agreed to.

Clauses 98 to 104 Agreed to.

Mr Stephen Timms

Agreed to  240

Schedule  25,  page  275,  line  41,  leave out ‘charitable purposes only’ and insert ‘a

purpose other than that of private gain (within the meaning of the Gambling Act 2005)’.

Schedule, as amended, Agreed to.

Public Bill Committee Proceedings: 7th June 2007
52

Finance Bill, continued

Clauses 105 to 108 Agreed to.

Mr Stephen Timms

Agreed to  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”.’.

Schedule, as amended, Agreed to.

Clauses 109 to 110 Agreed to.

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

Not called  NC1

To move the following Clause:—

‘(1)
Paragraph 11 of Schedule 15 to the Finance Act 2004 is amended as follows.

(2)
At the end of sub-paragraph (9)(a)(i), there is inserted “or the property from time

to time representing such property which has been disposed of,”.

(3)
In sub-paragraph (11), at the beginning, there is inserted “Subject to sub-

paragraph (12A),”.

(4)
After sub-paragraph (12) there is inserted—

“(12A)
Sub-paragraph 12 shall not apply if in the taxable period both the

following conditions are satisfied:

(a)
the person in whose estate the relevant property is comprised for

the purposes of IHTA 1984 as a result of section 49(1) of that Act

(treatment of interests in possession) is the settlor of the relevant

property which has become comprised in the settlement and he

has a qualifying interest in possession in such relevant property;

and

(b)
the relevant property is held directly by the trustees and is the

settled property in which the settlor has a qualifying interest in

possession,


and if the above conditions are both satisfied in only part of the taxable

period sub-paragraph (12) shall not apply to that part of the year of

assessment in which they are not so satisfied;

Public Bill Committee Proceedings: 7th June 2007
53

Finance Bill, continued




and “settlor” shall have the meaning given to it by section 44 IHTA 1984

and “qualifying interest in possession” shall have the meaning given to it

by section 59 IHTA 1984’.

Trustee residence

Mrs Theresa Villiers

Mr Mark Francois

Mr Mark Hoban

Mr Paul Goodman

Mr David Evennett

Withdrawn  NC2

To move the following Clause:—

‘(1)
Section 69 of the Taxation of Chargeable Gains Act 1992 is amended as follows.

(2)
In subsection (2D) for the words after “were resident in the United Kingdom”

substitute the words “in relation to the settlement unless the general

administration of the trusts is ordinarily carried on outside the United

Kingdom.”.’.

Missing trader intra community fraud

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

Mr David Evennett

Second reading negatived on division  nc3

To move the following Clause:—

‘HMRC shall lay a report before Parliament every three months on the measures

taken by the Government to combat missing trader intra community (MTIC)

fraud and the effects these measures are having on VAT compliance system

generally.’.

Clauses 111 and 112 Agreed to.

Public Bill Committee Proceedings: 7th June 2007
54

Finance Bill, continued

Mr Stephen Timms

Agreed to  249

Schedule  27,  page  292,  line  16,  column 2, at end insert—

‘In section 587BA—

(a)
subsection (12), and

(b)
in subsection (13), paragraph (b) and the

word “and” before it.’.

Mr Stephen Timms

Agreed to  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

Agreed to  95

Schedule  27,  page  294,  line  44,  column  2,  leave out ‘3,’.

Mr Stephen Timms

Agreed to  96

Schedule  27,  page  294,  column  2,  leave out line 49.

Mr Stephen Timms

Agreed to  250

Schedule  27,  page  295,  column 2, leave out line 2 and insert—

‘In section 442(6), paragraph (b) and the word

“and” before it.

Section 443(6).

In Schedule 1, paragraph 137(8).’.

Mr Stephen Timms

Agreed to  107

Schedule  27,  page  299,  line  36,  leave out ‘14(1)(b),’ and insert ‘14(1)(b) and (4),’.

Schedule, as amended, Agreed to.

Clause 113 Agreed to.

Bill, as amended, to be reported.