House of Commons Amendments

House of Commons

Session 2007 - 08
Internet Publications
Other Bills before Parliament

Consideration of Bill: 1st July 2008
2906

Finance Bill, continued

Lynne Jones

David Taylor

Dr Ian Gibson

Kelvin Hopkins

108

Page  101,  line  24  [Schedule  1],  at end insert—

‘(8)
The starting rate limit is £2,150.’.

Lynne Jones

David Taylor

Dr Ian Gibson

Kelvin Hopkins

109

Page  101,  line  25  [Schedule  1],  leave out sub-paragraph (6).

New Clauses relating to the powers of hm revenue and customs

Set-off etc where right to be paid a sum has been transferred

Mr Chancellor of the Exchequer

NC16

To move the following Clause:—

‘(1)
This section applies where there has been a transfer from one person (“the

original creditor”) to another person (“the current creditor”) of a right to be paid

a sum (“the transferred sum”) by the Commissioners.

(2)
The Commissioners—

(a)
must set the transferred sum against a sum payable to them by the original

creditor if they would have had an obligation to do so under or by virtue

of an enactment had the original creditor retained the right, and

(b)
may do so if they would have had a power to do so under or by virtue of

an enactment or under a rule of law had the original creditor retained the

right.

(3)
Subsection (2) applies whether the sum payable by the original creditor to the

Commissioners first became payable before or after the transfer (but not if it only

became payable after the Commissioners discharged their obligation to pay the

transferred sum to the current creditor).

(4)
The following are discharged to the extent of any set-off under this section—

(a)
the obligations of the Commissioners in relation to the current creditor,

and

(b)
the obligations of the original creditor.

(5)
An obligation under or by virtue of an enactment (other than this section) to set

the transferred sum against a sum payable to the Commissioners by a person other

than the original creditor has effect subject to the obligation under subsection

(2)(a) and to any exercise of the power under subsection (2)(b).

(6)
A power under or by virtue of an enactment (other than this section) or under a

rule of law to set the transferred sum against a sum payable to the Commissioners

by a person other than the original creditor has effect subject to the obligation

under subsection (2)(a).

Consideration of Bill: 1st July 2008
2907

Finance Bill, continued

(7)
In determining the sum (if any) to be paid, the Commissioners may make any

reduction that they could have made if the original creditor had retained the right

to be paid the transferred sum (in addition to any other reduction that they are

entitled to make), including a reduction arising from any defence to a claim for

the sum.

(8)
In this section—

(a)
references to the transfer of a right are to its transfer by assignment,

assignation or any other means, except that they do not include its

transfer by means of a direction under section 429 of ITA 2007 (giving

through self-assessment returns),

(b)
references to a sum that is payable by or to a person are to a sum that is

to be paid, repaid or credited by or to that person and references to the

payment of the sum (however expressed) are to be interpreted

accordingly, and

(c)
where a right in relation to a sum has been transferred more than once,

references to the original creditor are to the person from whom the right

was first transferred (except in subsection (1)).

(9)
Where the right to be paid the transferred sum is dependent on the making of a

claim—

(a)
subsection (2) does not apply unless a claim in respect of the transferred

sum has been made, and

(b)
the references in subsections (2) and (7) to the obligations or powers that

the Commissioners would have had if the original creditor had retained

the right are references to those that they would have had if the original

creditor had also made the claim in respect of the transferred sum.

(10)
This section has effect where the right to be paid the transferred sum was

transferred from the original creditor on or after 25 June 2008.’.

Coming into force of Part 7

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

Mr Brooks Newmark

NC5

To move the following Clause:—

‘The provisions contained in Part 7 of this Act shall not come into force until—

(a)
the Treasury has prepared and laid before the House of Commons a

report setting out the safeguards available to taxpayers and third parties

in respect of HMRC’s powers contained in Part 7 of this Act; and

(b)
the House of Commons has by resolution approved the report.’.

Consideration of Bill: 1st July 2008
2908

Finance Bill, continued

Taxpayers’ charter

Mr Jeremy Browne

Dr Vincent Cable

Mr Colin Breed

Dr John Pugh

NC19

To move the following Clause:—

‘(1)
The provisions of Part 7 of this Act shall not come into force until the condition

set out in subsection (2) has been satisfied.

(2)
The condition referred to in subsection (1) is that the Treasury has, by regulations

made by statutory instrument, provided for the introduction, by no later than the

passing of the Finance Act 2009, of a Taxpayers’ Charter.

(3)
Regulations under subsection (2) must—

(a)
specify the statutory rights of the taxpayer, including providing for a right

to appeal against an action or decision of HMRC, and

(b)
specify the statutory duties of the taxpayer, including—

(i)
notice periods to which the taxpayer must adhere,

(ii)
documents to which the taxpayer must allow access, and

(iii)
penalties which may be levied on the taxpayer for failure to

comply.

(4)
Regulations under subsection (2) may not be made unless a draft of the instrument

containing them has been laid before and approved by the House of Commons.’.

Amendments relating to part 7

Mr Jeremy Browne

Dr Vincent Cable

Mr Colin Breed

Dr John Pugh

8

Page  72,  line  36  [Clause  112],  at end insert—

‘(10)
This section shall not come into force until—

(a)
the Treasury has laid before the House of Commons a review of the

ability of HMRC to secure electronic documentation provided by a

person to HMRC for the purposes of checking the tax position of that

person, and

(b)
the House of Commons has by resolution approved that review.’.

Mr Chancellor of the Exchequer

24

Page  81,  line  12  [Clause  128],  after ‘129’, insert ‘and any obligation of the

Commissioners to set the credit against another sum’.

Consideration of Bill: 1st July 2008
2909

Finance Bill, continued

Mr Chancellor of the Exchequer

25

Page  81,  line  20  [Clause  128],  leave out paragraph (a).

Mr Chancellor of the Exchequer

26

Page  81,  line  30  [Clause  128],  at end insert—

‘( )
In this section references to sums paid, repaid or payable by or to a person

(however expressed) include sums that have been or are to be credited by or to a

person.’

Mr Chancellor of the Exchequer

27

Page  82  [Clause  129],  leave out line 4 and insert—

‘(b)
there is a post-insolvency credit in relation to that person.’.

Mr Chancellor of the Exchequer

28

Page  82,  line  6  [Clause  129],  at end insert ‘in relation to the person’.

New Clause relating to inheritance tax

Treatment of siblings for purpose of inheritance tax

Mr Frank Field

Jeremy Corbyn

NC2

To move the following Clause:—

‘(1)
Section 18 of IHTA 1984 is amended as follows.

(2)
In each of subsections (1), (2) and (3) for “or civil partner” substitute “, civil

partner or sibling”.

(3)
After subsection (4) insert—

“(5)
In this section “sibling” means a brother or sister with whom the

transferor had lived in the same household for not less than ten years

before the transfer.”.

(4)
In the title for “or civil partners” substitute “, civil partners or siblings”.’.

Consideration of Bill: 1st July 2008
2910

Finance Bill, continued

Amendments relating to clause 8 and schedule 4

Mr Frank Field

Lynne Jones

Jeremy Corbyn

1

Page  3,  line  29  [Clause  8],  leave out ‘and civil partners’ and insert ‘, civil partners

and siblings’.

Mr Frank Field

Lynne Jones

Jeremy Corbyn

2

Page  136,  line  9  [Schedule  4],  leave out ‘or civil partner’ and insert ‘, civil partner

or sibling’.

Mr Frank Field

Lynne Jones

3

Page  136,  line  11  [Schedule  4],  at end insert—

‘(1A)
In subsection (1) “sibling” means a brother or sister with whom the deceased

person had lived in the same household for not less than ten years before the

person’s death.’.

New Clauses relating to information about and simplification of

taxation

Report on proposed tax changes

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

NC17

To move the following Clause:—

‘(1)
The Treasury shall publish each year, not later than the Pre-Budget Report, a

report containing information about the technical content of any tax changes

which it proposes to include in the following year’s Finance Bill.

(2)
Subsection (1) does not require the publication of any information about proposed

changes to rates of taxation.

(3)
A copy of the report must be laid before the House of Commons.

(4)
Standing orders may make provision for the scrutiny of the report.’.

Consideration of Bill: 1st July 2008
2911

Finance Bill, continued

Tax simplification

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

NC18

To move the following Clause:—

‘(1)
The Treasury shall publish each year, not later than the Pre-Budget Report, its

proposals for the simplification of the tax code of the United Kingdom.

(2)
A copy of the proposals must be laid before the House of Commons.

(3)
Standing orders may make provision for the scrutiny of the proposals.’.

Amendments relating to schedule 3

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

89

Page  127,  line  5  [Schedule  3],  leave out ‘B,’.

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

90

Page  127  [Schedule  3],  leave out lines 12 to 16.

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

91

Page  127  [Schedule  3],  leave out lines 23 to 25.

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

93

Page  128,  line  1  [Schedule  3],  at beginning insert ‘In respect of qualifying business

disposals within section 169H(2)(a) and (b),’.

Consideration of Bill: 1st July 2008
2912

Finance Bill, continued

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

92

Page  130  [Schedule  3],  leave out lines 31 to 36 and insert—

‘(a)
that during the period of ownership of the individual or from 6 April

2008 if later—

(i)
the assets which (or interests in which) are disposed of have

not been in use for the purposes of the business throughout

that entire period, and

(ii)
only part of the assets which (or interest in which) are

disposed of are in use for the purposes of the business,’.

Mr Philip Hammond

Mr Mark Hoban

Mr David Gauke

Justine Greening

88

Page  133,  line  21  [Schedule  3],  at end insert—

‘4A
For paragraph 15 of Schedule 7D (taper relief on disposal of qualifying shares)

substitute—

“15
For the purposes of claiming entrepreneurs’ relief on a disposal of

qualifying shares, in applying sections 169I and 169S(3) the shares

are treated as if they had been acquired when the original option

was granted.”’.

Mr Chancellor of the Exchequer

29

Page  133,  line  26  [Schedule  3],  at end insert—

‘Transitionals: section 169P(4)(d)

5A
Section 169P of TCGA 1992 has effect in a case where the period for which

the assets are in use for the purposes of the business began before 6 April 2008

as if the reference in subsection (4)(d) of that section to that period were to so

much of it as falls on or after that date.’.