House of Commons Amendments

House of Commons

Session 2006 - 07
Internet Publications
Other Bills before Parliament

Notices of Amendments: 20th June 2007
1395

Finance Bill, continued

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

10


Page  97,  line  14  [Schedule  3],  at end insert—

‘(3A)
References in section 61B to an associate of a person (“P”) shall include a person

who, for the purposes of securing that the individual’s services are provided by a

company, acts in concert with P (or with P and other persons).’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

14


Page  98,  line  15  [Schedule  3],  leave out ‘an officer of Revenue and Customs

considers’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

15


Page  98,  line  22  [Schedule  3],  leave out ‘encouraged or’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

16


Page  98,  line  26  [Schedule  3],  at end insert—

‘(2A)
No person shall fall within the scope of subsection (2)(c) above unless they knew

or could have reasonably been expected to know that the services of the

individual were being provided by a managed service company.’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

17


Page  98,  line  32  [Schedule  3],  at end insert—

Notices of Amendments: 20th June 2007
1396

Finance Bill, continued

‘(3A)
HM Revenue and Customs may not pursue any person mentioned in any

paragraph of subsection (2) under the provisions of this section unless, in the

opinion of an officer of Revenue and Customs—

(a)
it is impossible to recover the specified amount from any other person

mentioned in any of the preceding paragraphs of subsection (2), or

(b)
it is impracticable to recover the specified amount from any of those

persons.’.

Mr Chancellor of the Exchequer

19


Page  148,  line  33  [Schedule  9],  at end insert—

    ‘( )
In section 431 of ICTA, at end insert—

“(2ZG)
The Treasury may by order amend the definition of “insurance

business transfer scheme” given by subsection (2) above where it is

expedient to do so in consequence of any amendment of section 105

of the Financial Services and Markets Act 2000.

(2ZH)
The power conferred by subsection (2ZG) above includes power to

make incidental, supplementary, consequential or transitional

provisions and savings (including provision amending any provision

of the Corporation Tax Acts relating to insurance companies).”.’

Mr Chancellor of the Exchequer

20


Page  159,  line  34  [Schedule  9],  leave out ‘omit “or as a business transfer-out”’ and

insert ‘for “as a business transfer out” substitute “by being netted off against incomings

in lines 11 to 15 of a revenue account”’.

Mr Chancellor of the Exchequer

21


Page  161,  line  32  [Schedule  9],  leave out from ‘made,’ to end of line 35.

Mr Chancellor of the Exchequer

22


Page  162  [Schedule  10],  leave out lines 39 to 41.

Notices of Amendments: 20th June 2007
1397

Finance Bill, continued

Mr Chancellor of the Exchequer

23


Page  163,  line  29  [Schedule  10],  at end insert—

‘(7A)
In subsection (6) above “the relevant time” means—

(a)
in a case where assets become structural assets held in any of the

company’s non-profit funds by virtue of the commencement of this

section, the end of the last period of account of the company beginning

before 1st January 2007, and

(b)
otherwise, the time when the assets become structural assets held in any

of the company’s non-profit funds.’.

Mr Chancellor of the Exchequer

24


Page  163,  line  38  [Schedule  10],  leave out ‘subsection (6) above’ and insert ‘this

section’.

Mr Chancellor of the Exchequer

25


Page  163  [Schedule  10],  leave out lines 43 to 48.

Mr Chancellor of the Exchequer

26


Page  164  [Schedule  10],  leave out lines 1 to 5 and insert—

‘(11)
Regulations made by the Treasury may make provision for computing for the

purposes of the Taxation of Chargeable Gains Act 1992 any gain or loss arising

on a disposal by an insurance company of a structural asset held in a non-profit

fund in any case where the condition in subsection (11A) is met.

(11A)
The condition in this subsection is met if, in any period of account of the company

in which the asset was held by it—

(a)
income arising from the asset was (or, had there been any, would have

been) referable to any category of long-term business the profits of which

fell for that period of account to be computed in accordance with the

provisions applicable to Case I of Schedule D, or

(b)
the company was charged to tax on the profits of its life assurance

business under Case I of Schedule D.’.

Mr Chancellor of the Exchequer

27


Page  164,  line  18  [Schedule  10],  at end insert—

‘( )
Regulations under subsection (3) or (11) above may be made so as to have effect

in relation to periods of account current when they are made (as well as periods

of account beginning later).”.’.

Mr Chancellor of the Exchequer

28


Page  170,  line  1  [Schedule  10],  leave out ‘sub-paragraph’ and insert ‘sub-

paragraphs (4A) and’.

Notices of Amendments: 20th June 2007
1398

Finance Bill, continued

Mr Chancellor of the Exchequer

29


Page  170,  line  21  [Schedule  10],  leave out ‘84(2) to (6)’ and insert ‘84(2), (3), (5)

and (6)’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

44


Page  226,  line  8  [Schedule  19],  leave out from ‘least’ to end of line 9 and insert

‘equivalent to minimum retirement income (see sub-section 8 below)’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

47


Page  226,  line  9  [Schedule  19],  at end insert—

  ‘(1A)
The total amount of a spouse’s, or civil partner’s alternatively secured pension

paid to a spouse or civil partner of a member of a registered pension scheme in

each alternatively secured pension year in respect of a money purchase

arrangement under the pension scheme must be at least equivalent to the

Minimum Retirement Income for the alternatively secured pension year (but

subject to sub-section 5 below).’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

45


Page  226,  line  11  [Schedule  19],  after ‘dependant’, insert ‘(other than the spouse ,

or civil partner’s)’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

46


Page  226,  line  11  [Schedule  19],  after ‘dependant’, insert ‘(other than the spouse ,

or civil member)’.

Notices of Amendments: 20th June 2007
1399

Finance Bill, continued

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

49


Page  226,  line  31  [Schedule  19],  after ‘(1)’, insert ‘(1A)’.

Mr David Cameron

Mr George Osborne

Mrs Theresa Villiers

Mr Mark Hoban

Mr Paul Goodman

Mr David Gauke

48


Page  227,  line  7  [Schedule  19],  at end insert—

‘(8)
In relation to minimum retirement income as mentioned in subsection (1) above,

the following provisions shall apply—

(a)
the amount of the minimum retirement income in respect of each tax year

shall be set by the Treasury by order at the level of the standard minimum

guarantee; prescribed under section 2 of the State Pension Credit Act

2002 (c.16).

(b)
before making an order under this subsection, the Treasury shall consult

such persons as it considers appropriate;

(c)
an order under this subsection (other than the order that applies to the first

tax year during which this section is in force) must be made on or before

the 31st January of the tax year before the tax year to which the order

applies.’.

Mr Chancellor of the Exchequer

33


Page  235,  line  46  [Schedule  20],  at end insert—

  ‘(2A)
In paragraph 1(6) (power to provide that certain lump sums are to be treated as

pension commencement lump sums), for “(1)(c) and (e)” substitute “(1)(a) and

(c)”.’.

Mr Chancellor of the Exchequer

30


Page  293,  line  17  [Schedule  27],  leave out ‘the words “, or as a business transfer-

out,” and’.

Notices of Amendments: 20th June 2007
1400

Finance Bill, continued

Mr Chancellor of the Exchequer

31


Page  295,  line  44  [Schedule  27],  leave out ‘84(2) to (6)’ and insert ‘84(2), (3), (5)

and (6)’.

Mr Chancellor of the Exchequer

32


Page  296,  line  14  [Schedule  27],  leave out ‘17(5)’ and insert ‘17(4A) and (5)’.

ORDER OF THE HOUSE [23rd APRIL 2007]

That—

(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;

(2)
the remainder of the Bill be committed to a Public Bill Committee; and

(3)
when the provisions of the Bill considered by the Committee of the whole

House and the Public Bill Committee have been reported to the House, the

Bill be proceeded with as if it had been reported as a whole to the House from

the Public Bill Committee.