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43

 

House of Commons

 
 

Tuesday 3rd June 2008

 

Public Bill Committee Proceedings

 

Finance Bill


 

(Except Clauses 3, 5, 6, 15, 21, 49, 90 and 117


 

and new Clauses amending section 74 of the Finance Act 2003)


 

[Thirteenth and Fourteenth sittings]


 

Clause 61.

 

Agreed to

 

Question proposed, That the Clause, as amended, stand part of the Bill.

 


 

Clauses 62 to 65 Agreed to.

 

Jane Kennedy

 

Agreed to  144

 

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, as amended, Agreed to.

 

Clauses 67 to 71 Agreed to.

 


 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Negatived  200

 

Schedule  24,  page  288,  line  33,  leave out from ‘partnership’ to ‘or’.


 
 

Public Bill Committee Proceedings: June 2008            

44

 

Finance Bill, continued

 
 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Not called  201

 

Schedule  24,  page  288,  line  34,  at end insert ‘; or

 

(d)    

a trustee’.

 

Jane Kennedy

 

Agreed to  146

 

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.’.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Not called  202

 

Schedule  24,  page  289,  leave out lines 41 and 42.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Not called  203

 

Schedule  24,  page  290,  line  14,  at end insert—

 

‘(7A)    

Where AIA qualifying expenditure incurred in a chargeable period is less than the

 

maximum allowances, the unused allowance may be carried forward to relieve

 

future qualifying expenditure in a subsequent chargeable period or carried back

 

to relieve unrelieved qualifying expenditure in the previous chargeable period.’.

 

Jane Kennedy

 

Agreed to  147

 

Schedule  24,  page  290,  leave out lines 15 to 17.

 

Schedule, as amended, Agreed to.

 


 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Withdrawn  204

 

Clause  72,  page  39,  line  5,  leave out ‘and (3)’ and insert ‘to (4)’.

 

Clause Agreed to.


 
 

Public Bill Committee Proceedings: June 2008            

45

 

Finance Bill, continued

 
 

Clause 73 Agreed to.

 


 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Withdrawn  160

 

Clause  74,  page  40,  line  12,  leave out subsection (3).

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Not called  161

 

Clause  74,  page  40,  line  16,  leave out subsections (5) and (6).

 

Clause Agreed to.

 

Clauses 75 and 76 Agreed to.

 


 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Withdrawn  212

 

Schedule  25,  page  301,  line  34,  at end insert—

 

‘(5)    

In this Schedule “company” includes a partnership or a business carried on by a

 

sole trader’.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Withdrawn  214

 

Schedule  25,  page  301,  line  39,  leave out ‘19%’ and insert ‘20%’.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Withdrawn  210

 

Schedule  25,  page  302,  line  18,  after ‘machinery)’, insert ‘or section 45D

 

(expenditure on cars with low carbon dioxide emissions) or section 45E (expenditure on

 

plant and machinery for gas refuelling stations) or section 45F (expenditure on plant and

 

machinery for use wholly in a ring-fence trade)’.


 
 

Public Bill Committee Proceedings: June 2008            

46

 

Finance Bill, continued

 
 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Withdrawn  211

 

Schedule  25,  page  302,  line  20,  leave out ‘2013’ and insert ‘2018’.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Withdrawn  208

 

Schedule  25,  page  307,  line  14,  after ‘tax’, insert ‘that is due and payable’.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Negatived on division  209

 

Schedule  25,  page  307,  line  23,  leave out from ‘as’ to end and insert ‘is just and

 

reasonable’.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Withdrawn  205

 

Schedule  25,  page  310,  leave out lines 5 and 6.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Not called  206

 

Schedule  25,  page  310,  leave out lines 12 and 13.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Not called  207

 

Schedule  25,  page  310,  leave out lines 16 to 20.


 
 

Public Bill Committee Proceedings: June 2008            

47

 

Finance Bill, continued

 
 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Not called  213

 

Schedule  25,  page  313,  line  36,  at end add ‘by a company which is incorporated

 

under the Companies Acts on or after 6th April 2008 by a company which is a partnership

 

or a business carried on by a sole trader.’.

 

Schedule Agreed to.

 

Clause 77 Agreed to.

 


 

Jane Kennedy

 

Agreed to  145

 

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.’.

 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Not called  215

 

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 greater 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.’.

 

Clause, as amended, Agreed to.

 

Clause 79 Agreed to.

 


 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Not moved  216

 

Schedule  26,  page  314,  leave out lines 16 and 17.


 
 

Public Bill Committee Proceedings: June 2008            

48

 

Finance Bill, continued

 
 

Schedule Agreed to.

 


 

Mr Philip Hammond

 

Mr Mark Hoban

 

Mr David Gauke

 

Justine Greening

 

Mr Brooks Newmark

 

Withdrawn  217

 

Clause  81,  page  44,  line  15,  leave out subsections (2) and (3).

 

Mr Jeremy Browne

 

Dr Vincent Cable

 

Mr Colin Breed

 

Dr John Pugh

 

Not called  184

 

Clause  81,  page  44,  line  16,  leave out subsection (3).

 

Clause Agreed to.

 

[Adjourned till Thursday at 9.00 a.m.


 
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