|
|
| |
| |
|
| |
| |
| |
| For other Amendment(s) see the following page(s):
|
|
| Finance Bill Committee 151-156 |
|
| |
| |
| (Except Clauses 3, 5, 6, 15, 21, 49, 90 and 117
|
|
| and new Clauses amending section 74 of the Finance Act 2003)
|
|
| |
| | |
| Clause 66, page 34, line 26, leave out from ‘effect’ to ‘for’ in line 27 and insert ‘for |
|
| the purpose of calculating the amount of any payments to be made under section 59A of |
|
| TMA 1970 on account of liability to income tax’. |
|
| |
| | |
| Clause 78, page 42, line 33, at end insert— |
|
| | ‘(5) | The Treasury may by order substitute for the amount for the time being specified |
|
| | in subsection (3) such other amount as it thinks fit. |
|
| | (6) | An order under subsection (5) may make such incidental, supplemental, |
|
| | consequential and transitional provision as the Treasury thinks fit.’. |
|
| |
| | |
| Schedule 24, page 288, line 34, at end insert— |
|
| | ‘( ) | In determining whether expenditure is AIA qualifying expenditure, any effect of |
|
| | section 12 on the time at which it is to be treated as incurred is to be disregarded.’. |
|
| |
| | |
| Schedule 24, page 290, leave out lines 15 to 17. |
|
| |
| | |
| Schedule 27, page 322, line 35, at end insert— |
|
|
|
| |
| |
|
| | ‘ (1) | Sub-paragraph (2) applies if— |
|
| | (a) | an initial allowance has been made under Part 3 of CAA 2001 in |
|
| | respect of qualifying enterprise zone expenditure, and |
|
| | (b) | an event occurs in relation to the building on which the expenditure |
|
| | was incurred which, if section 307 of that Act (withdrawal of |
|
| | allowance if building not industrial building when first used etc) |
|
| | remained in force, would result in the allowance being withdrawn. |
|
| | (2) | Unless the event occurs more than 7 years after the end of the chargeable |
|
| | period for which the allowance was made, the allowance is to be withdrawn as |
|
| | if that section remained in force.’. |
|
| |
| | |
| Clause 91, page 52, line 24, leave out ‘, other than any rent,’. |
|
| |
| | |
| Clause 91, page 52, line 25, leave out from ‘£40,000’ to end of line 26. |
|
| |
| | |
| Clause 91, page 52, line 33, after ‘consideration’, insert ‘for the assignment or |
|
| |
| |
| | |
| Clause 92, page 54, line 42, at end insert— |
|
| | ‘( ) | In Schedule 9 to that Act (SDLT: right to buy etc), after paragraph 4A insert— |
|
| | “Shared ownership lease: grant not linked with staircasing transactions etc |
|
| | 4B (1) | For the purpose of determining the rate of tax chargeable on the grant |
|
| | of a shared ownership lease of a dwelling, the grant shall be treated as |
|
| | if it were not linked to— |
|
| | (a) | any acquisition of an interest in the dwelling to which |
|
| | |
| | (b) | a transfer of the reversion to the lessee or lessees under the |
|
| | |
| | (2) | In this paragraph “shared ownership lease” has the same meaning as |
|
| | |
| | ( ) | In that Schedule, in paragraphs 10(1) and (2) and 11(b) (shared ownership trusts), |
|
| | |
| | ( ) | In that Schedule, insert at the end— |
|
| | “Shared ownership trust: declaration not linked with staircasing transactions etc |
|
| | 12 | For the purpose of determining the rate of tax chargeable on the |
|
| | declaration of a shared ownership trust, the declaration shall be treated |
|
| | as if it were not linked to— |
|
| | (a) | any equity-acquisition payment under the trust or any |
|
| | consequent increase in the purchaser’s beneficial interest in |
|
| | |
|
|
| |
| |
|
| | (b) | a transfer to the purchaser of an interest in the trust property |
|
| | upon the termination of the trust.”’. |
|
| |
| | |
| Clause 93, page 55, line 32, at end insert ‘(but see subsection (6A))’. |
|
| |
| | |
| Clause 93, page 56, line 3, at end insert— |
|
| | ‘(6A) | Sub-paragraph (4) does not apply where— |
|
| | (a) | there is a change in the control of the purchaser because a loan creditor |
|
| | (within the meaning of section 417(7) to (9) of the Taxes Act 1988) |
|
| | obtains control of, or ceases to control, the purchaser, and |
|
| | (b) | the other persons who controlled the purchaser before that change |
|
| | |
| |
| | |
| Clause 93, page 56, line 7, leave out ‘4A(1)’ and insert ‘4A’. |
|
| |
| | |
| Clause 93, page 56, line 8, after ‘transactions),’, insert ‘— |
|
| | (a) | in sub-paragraph (1),’. |
|
| |
| | |
| Clause 93, page 56, line 9, at end insert— |
|
| | ‘(b) | after that sub-paragraph insert— |
|
| | “(1A) | Sub-paragraph (1) has effect subject to sub-paragraph (3A).”, |
|
| | (c) | in sub-paragraph (3)— |
|
| | (i) | for “sub-paragraph (1)(a)” substitute “this paragraph”, and |
|
| | (ii) | for “this sub-paragraph” substitute “this paragraph”, and |
|
| | (d) | after sub-paragraph (3) insert— |
|
| | “(3A) | Sub-paragraph (1) does not apply where— |
|
| | (a) | there is a change in the control of the purchaser |
|
| | because a loan creditor (within the meaning of section |
|
| | 417(7) to (9) of the Taxes Act 1988) obtains control |
|
| | of, or ceases to control, the purchaser, and |
|
| | (b) | the other persons who controlled the purchaser before |
|
| | that change continue to do so.”’. |
|
| |
| | |
| Clause 93, page 56, line 12, leave out from ‘2008’ to end of line 19. |
|
|
|
| |
| |
|
| | |
| |
| | |
| To move the following Clause:— |
|
| | ‘(1) | Omit section 82(5) and (9) of FA 1985 (adjudication of certain gifts inter vivos). |
|
| | (2) | Accordingly, omit paragraph 9 of Schedule 14 to FA 1999. |
|
| | (3) | The amendments made by this section have effect in relation to instruments |
|
| | executed on or after 13 March 2008, other than instruments effecting a land |
|
| | transaction (within the meaning of paragraph 22 of Schedule 32). |
|
| | (4) | For the purposes of section 14(4) of the Stamp Act 1891 (instruments not to be |
|
| | given in evidence etc unless stamped in accordance with the law in force at the |
|
| | time of first execution), the law in force at the time of execution of such an |
|
| | instrument shall be deemed to be the law as varied in accordance with this |
|
| | |
| | Abandonment expenditure: deductions from ring fence income |
|
| |
| | |
| To move the following Clause:— |
|
| | ‘(1) | FA 1991 is amended as follows. |
|
| | (2) | Section 64 (relief for expenditure incurred by a participator in meeting defaulter’s |
|
| | abandonment expenditure) is amended as follows. |
|
| | (3) | In subsection (1)(a)— |
|
| | (a) | omit “(as set out in section 107 of this Act)”, and |
|
| | (b) | for “sub-paragraph (1)(a)” substitute “sub-paragraph (2)”. |
|
| | (4) | In subsection (1)(b)— |
|
| | (a) | for “sub-paragraph (4)” substitute “sub-paragraph (2)”, and |
|
| | (b) | for “qualifying” substitute “contributing”. |
|
| | (5) | In subsections (2), (3), (4) and (5) (in each place), for “qualifying” substitute |
|
| | |
| | (6) | Section 65 (reimbursement by defaulter in respect of certain abandonment |
|
| | expenditure) is amended as follows. |
|
| | (7) | In subsection (1)(a)— |
|
| | (a) | omit “(as set out in section 107 of this Act)”, and |
|
| | (b) | for “sub-paragraph (1)(a)” substitute “sub-paragraph (2)”. |
|
| | (8) | In subsection (1)(b), for “sub-paragraph (4)” substitute “sub-paragraph (2)”. |
|
| | (9) | In subsections (1) (in each place), (4), (5) (in each place), (6), (7) (in each place) |
|
| | and (8), for “qualifying” substitute “contributing”. |
|
| | (10) | The amendments made by this section have effect in relation to expenditure |
|
| | incurred after 30 June 2008.’. |
|
| |
| |
| |
| |
| | |
| Clause 93, page 56, line 6, at end insert— |
|
|
|
| |
| |
|
| | ‘(8) | The provisions of sub-paragraph (4) shall not apply unless, at the effective date |
|
| | of the transaction, there are arrangements in existence by virtue of which, at that |
|
| | time or some later time, a person has or could obtain, or any persons together have |
|
| | or could obtain, control of the purchaser but not of the vendor.’. |
|
| |
| |
| |
| |
| | |
| Clause 74, page 40, line 12, leave out subsection (3). |
|
| |
| |
| |
| |
| | |
| Clause 74, page 40, line 16, leave out subsections (5) and (6). |
|
| |
|