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| | (Clauses 3, 5, 6, 15, 21, 49, 90 and 117
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| | and new Clauses amending section 74 of the Finance Act 2003)
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| | | The Amendments have been arranged in accordance with the Order to be |
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| | | proposed by Mr Chancellor of the Exchequer. |
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| | Mr Chancellor of the Exchequer |
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| | | To move, That the order in which proceedings in the Committee of the whole House |
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| | | on the Finance Bill are taken shall be: Clauses 5, 6, 21, 3, 49 and 90, new Clauses |
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| | | amending section 74 of the Finance Act 2003 and Clauses 117 and 15 |
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| | Clause 5, page 2, line 36, leave out ‘21%’ and insert ‘20%’. |
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| | Clause 5, page 2, line 37, at end insert— |
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| | | ‘(1A) | Subsection (1)(a) shall come into force on a day which the Treasury may by order |
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| | | (1B) | No order may be made under subsection (1A) until— |
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| | | (a) | the Treasury has compiled and laid before the House of Commons a |
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| | | report containing an assessment of the impact on the competitiveness of |
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| | | small companies as a result of changes to the small companies rate of |
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| | | (b) | the report has been approved by a resolution of the House of Commons.’. |
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| | Clause 5, page 3, line 1, leave out ‘7/400ths’ and insert ‘1/40th’. |
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| | Clause 6, page 3, leave out line 17 and insert ‘Capital gains shall be taxed at the same |
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| | Clause 6, page 3, line 20, leave out from ‘(1)’ to end of line 21 and add ‘will have |
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| | effect from a day which the Treasury may by order appoint. |
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| | | (4) | No order may be made under subsection (3) until— |
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| | | (a) | the Treasury has compiled and laid before the House of Commons a |
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| | | report containing an assessment of the impact of changes to the rate of |
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| | | (i) | businesses seeking investment, |
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| | | (ii) | investors who normally pay tax via capital gains tax, and |
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| | | (iii) | the availability and cost of houses to buy and rent; and |
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| | | (b) | the report has been approved by a resolution of the House of Commons.’. |
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| | Clause 21, page 11, line 17, at end add— |
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| | | ‘(3) | The amendment made by subsection (1) ceases to have effect on 1st April 2009 |
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| | | unless the Secretary of State has made regulations under the Gambling Act 2005 |
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| | | which permit up to one-fifth of the gaming machines in bingo halls and arcades |
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| | | to be Category B3 machines (as defined in regulations made under section 236 of |
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| | Clause 3, page 2, line 21, at beginning insert ‘Save as provided in subsection |
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| | Clause 3, page 2, line 22, at end insert— |
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| | | ‘(6A) | The amendments made by this section shall cease to have effect at midnight on |
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| | | 5th January 2009 unless the condition set out in subsection (6B) has been |
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| | | (6B) | The condition referred to in subsection (6A) is that the Chancellor of the |
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| | | Exchequer shall have laid before the House of Commons a statement setting out |
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| | | the measures taken to mitigate the effect of the amendments made by this section |
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| | | and by section 1 (when taken together) on those for whom such effect is a net |
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| | | increase in income tax payable and the House of Commons shall, by resolution, |
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| | | have approved such statement.’. |
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| | Clause 3, page 2, line 25, at end add— |
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| | | ‘(8) | The Chancellor of the Exchequer shall introduce measures to increase tax income |
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| | | from high earning groups to offset the effect of the abolition of the starting rate |
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| | | in a progressive manner.’. |
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| | Clause 49, page 25, line 21, leave out ‘2008’ and insert ‘2009.’. |
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| | Clause 49, page 25, line 21, at end add— |
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| | | ‘(5) | Within twelve months of the commencement of this section, the Treasury shall |
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| | | compile and lay before the House of Commons a report on the taxation of such |
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| | | severance payments, including in particular the admissibility of contractual |
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| | | payments for tax exemption.’. |
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| | Clause 90, page 51, line 11, leave out from ‘acquisition”’ to end of line 12 and |
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| | insert ‘means the acquisition of a dwelling when it has not been previously acquired by a |
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| | Clause 90, page 51, line 12, leave out from ‘acquisition’ to end and insert ‘as a |
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| | Clause 90, page 51, line 12, leave out ‘occupied’ and insert ‘acquired by a buyer’. |
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| | Clause 90, page 51, line 12, at end insert— |
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| | | ‘(2A) | In section 58B omit subsection (6).’. |
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| | Clause 90, page 51, line 26, at end add— |
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| | | ‘(8) | The Treasury shall, by regulations, define a zero-carbon dwelling. |
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| | | (9) | Regulations under subsection (8) shall be made by statutory instrument. |
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| | | (10) | A statutory instrument containing regulations under subsection (8) may not be |
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| | | made unless a draft of it has been laid before and approved by resolution of the |
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| | | (11) | Regulations under subsection (8) shall be laid not later than 31st December |
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| | Clause 90, page 51, line 26, at end add— |
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| | | ‘(8) | The Treasury shall, by regulations, define a “zero-carbon home”. |
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| | | (9) | Regulations under subsection (8) must have regard to the desirability of ensuring |
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| | | that all new homes should be zero carbon by 2016. |
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| | | (10) | Regulations under subsection (8) shall be made by statutory instrument. |
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| | | (11) | A statutory instrument containing regulations under subsection (8) may not be |
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| | | made unless a draft of it has been laid before and approved by resolution of the |
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| | | (12) | Regulations under subsection (8) shall be laid not later than 31st December 2008. |
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| | | (13) | On the coming into operation of regulations under subsection (8), regulation 5 of |
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| | | the Stamp Duty Land Tax (Zero-Carbon Homes Relief) Regulations 2007 (SI |
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| | | 2007/3437) shall cease to have effect.’. |
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| | New Clause amending section 74 of the Finance ACT 2003 |
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| | | Collective enfranchisement by leaseholders |
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| | To move the following Clause:— |
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| | | ‘(1) | Section 74 of the Finance Act 2003 is amended as follows. |
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| | | (2) | In subsection (1) omit “by an RTE company”. |
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| | | (3) | Omit subsection (4)(a). |
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| | | (4) | In subsection (4)(b) omit “by an RTE company”.’. |
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| | Clause 117, page 73, line 12, at end insert— |
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| | | ‘(3A) | An order under subsection (2) may not be made until— |
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| | | (a) | the provisions of Schedule 24 to FA 2007 which are amended by |
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| | | Schedule 40 have been in force for not less than 12 months, and |
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| | | (b) | the Treasury has laid before the House of Commons a report setting out |
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| | | its assessment of the effectiveness of those provisions.’. |
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| | Clause 117, page 73, line 13, leave out subsections (4) to (6). |
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| | Clause 117, page 73, line 23, at end insert— |
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| | | ‘(7A) | A statutory instrument containing an order under subsection (2) may not be made |
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| | | unless a draft of it has been laid before and approved by resolution of the House |
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| | Clause 117, page 73, line 24, leave out subsection (8). |
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| | Clause 15, page 8, line 4, at end insert— |
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| | | ‘(3A) | In paragraph 1C (the reduced rate)— |
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| | | (a) | in sub-paragraph (1) for “or C” substitute “C or D”; |
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| | | (b) | after sub-paragraph (4) insert— |
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| | | “(4A) | Condition D is that the vehicle is a working vehicle.”; and |
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| | | (c) | in sub-paragraph (6) insert at the appropriate place— |
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| | | ““working vehicle” has such meaning as may be prescribed by the |
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| | | Treasury in regulations made by statutory instrument,”’. |
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| | Clause 15, page 8, line 17, at end add ‘(subject to subsection (7)). |
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| | | (7) | The amendments made by subsection (3A) shall come into force on a day which |
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| | | the Treasury may by order appoint.’. |
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| | Clause 15, page 8, line 17, at end add— |
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| | | ‘(7) | The Treasury shall publish, not later than the date of the Budget 2009, an |
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| | | estimate, audited by the Independent Committee on Climate Change (as |
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| | | established by the Climate Change Act 2008), of the carbon emissions savings |
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| | | resultant from the changes to vehicle excise duty contained in this section.’. |
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| | | Order of the House [21st APRIL 2008] |
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| | | That the following provisions shall apply to the Finance Bill:
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| | | 1. | Clauses 3, 5, 6, 15, 21, 49, 90 and 117 and new Clauses amending section 74 |
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| | | of the Finance Act 2003 be committed to a Committee of the whole House; |
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| | | 2. | the remainder of the Bill be committed to a Public Bill Committee; and |
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| | | 3. | when the provisions of the Bill considered by the Committee of the whole |
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| | | House and the Public Bill Committee have been reported to the House, the |
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| | | Bill be proceeded with as if it had been reported as a whole to the House from |
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| | | the Public Bill Committee. |
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