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| | ““off-road working vehicle” means, subject to any provision which |
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| | may be made by the Treasury in regulations made by statutory |
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| | instrument, any vehicle which is used primarily for business |
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| | purposes off adopted roads,”.’. |
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| Page 8, line 21 [Clause 15], leave out from ‘to’ to end of line 22 and insert ‘any |
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| licence taken out in respect of a vehicle first acquired on or after 13 March 2008. |
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| | (7) | In this section “first acquired”, in relation to a vehicle means acquisition when it |
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| | has not previously been owned.’. |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 41, line 38 [Clause 75], at end insert ‘and |
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| | (b) | in section 50(3) of ITTOIA 2005 (cases in which expenses incurred on |
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| | hiring car with low carbon dioxide emissions are not excluded from |
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| | section 48 of that Act), for “2008” substitute “2013”.’. |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 41, line 44 [Clause 75], leave out ‘applies’ and insert ‘and section 50 of |
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| Page 156, line 35 [Schedule 7], leave out ‘must be’ and insert ‘will be deemed to |
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| Page 156, line 42 [Schedule 7], at end insert— |
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| | ‘(5A) | Where the relevant tax increase exceeds £30,000— |
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| | (a) | the nomination will be valid but the charge will be capped at £30,000; |
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| | (b) | the individual will be notified that the cap has been enforced and will |
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| | have the opportunity to revise the nomination of foreign income and |
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| | (c) | a revised nomination is not necessary for the remittance basis claim to |
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| | be valid for the tax year.’. |
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| Mr Chancellor of the Exchequer |
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| Page 162, line 15 [Schedule 7], after ‘property,’, insert ‘service’. |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 162, line 17 [Schedule 7], leave out from ‘property’ to end of line 21 and |
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| insert ‘, service or consideration— |
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| | (i) | derives (wholly or in part, and directly or indirectly) |
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| | from the income or chargeable gains, and |
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| | (ii) | in the case of property or consideration, is property of |
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| | or consideration given by a relevant person,’. |
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| Mr Chancellor of the Exchequer |
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| Page 163 [Schedule 7], leave out lines 14 to 16. |
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| Mr Chancellor of the Exchequer |
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| Page 166, line 16 [Schedule 7], after ‘property’, insert ‘, service’. |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 166, line 19 [Schedule 7], after ‘property’, insert ‘, service’. |
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| Mr Chancellor of the Exchequer |
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| Page 166, line 21 [Schedule 7], after ‘property’, insert ‘, service’. |
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| Mr Chancellor of the Exchequer |
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| Page 169, line 2 [Schedule 7], at end insert— |
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| | ‘(8) | References in this section and section 809R to anything deriving from |
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| | income or capital within paragraph (i) of subsection (4) do not |
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| | |
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| | (a) | income or gains within any of paragraphs (a) to (h) of that |
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| | |
| | (b) | anything deriving from such income or gains.’. |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 169 [Schedule 7], leave out lines 6 to 16 and insert— |
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| | ‘(2) | Treat property which derives wholly or in part (and directly or |
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| | indirectly) from an individual’s income or capital for a tax year as |
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| | consisting of or containing that income or capital. |
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| | (3) | If a debt relating (wholly or in part, and directly or indirectly) to |
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| | property is at any time satisfied (wholly or in part) by— |
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| | (a) | an individual’s income or capital for a tax year, or |
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| | (b) | anything deriving (directly or indirectly) from such income or |
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| | |
| | | from that time treat the property as consisting of or containing the |
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| | income or capital if and to the extent that it is just and reasonable to do |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 169 [Schedule 7], leave out lines 23 and 24. |
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| Mr Chancellor of the Exchequer |
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| Page 169, line 34 [Schedule 7], at end insert— |
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| | ‘(7A) | In this section ‘mixed fund’ means money or other property containing |
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| | |
| | (a) | more than one of the kinds of income and capital mentioned |
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| | |
| | (b) | income or capital for more than one tax year. |
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| | (7B) | If section 809Q applies in relation to part of a transfer, apply that |
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| | section in relation to that part before applying subsection (4) in |
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| | relation to the rest of the transfer.’. |
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| Page 169, line 40 [Schedule 7], leave out from beginning to end of line 13 on page |
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| Mr Chancellor of the Exchequer |
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| Page 170, line 22 [Schedule 7], leave out ‘sections 809L to 809R’ and insert ‘this |
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| Mr Chancellor of the Exchequer |
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| Page 171, line 5 [Schedule 7], leave out ‘taken to be’ and insert ‘regarded as’. |
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| Mr Chancellor of the Exchequer |
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| Page 171, line 15 [Schedule 7], after ‘met’, insert ‘; but this is subject to subsection |
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| Page 171, line 16 [Schedule 7], after ‘service’, insert ‘as defined in accordance |
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| Mr Chancellor of the Exchequer |
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| Page 171, line 21 [Schedule 7], at end insert— |
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| | ‘(4A) | Subsection (2) does not apply if the relevant UK service relates (to any |
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| | extent) to the provision in the United Kingdom of— |
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| | (a) | a benefit that is treated as deriving from the income by virtue |
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| | |
| | (b) | a relevant benefit within the meaning of section 87B of TCGA |
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| | 1992 that is treated as deriving from the chargeable gains by |
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| | virtue of that section.’. |
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| Page 171, line 21 [Schedule 7], at end insert— |
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| | ‘(4A) | The Treasury may by order define those services which qualify as relevant |
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| | |
| | (4B) | The power to make an order under this section is exercisable by statutory |
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| | |
| | (4C) | A statutory instrument containing an order under subsection (4A) may not be |
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| | made unless a draft of the instrument has been laid before, and approved by a |
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| | resolution of, the House of Commons.’. |
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| Mr Chancellor of the Exchequer |
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| Page 179, line 29 [Schedule 7], leave out ‘sections 809L to 809R’ and insert |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 180, line 18 [Schedule 7], leave out ‘sections 809L to 809R’ and insert |
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| Mr Chancellor of the Exchequer |
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| Page 181, line 34 [Schedule 7], leave out from ‘purposes of’ to ‘treat’ in line 35 and |
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| insert ‘Chapter A1 of Part 14 of ITA 2007 (remittance basis),’. |
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| Page 181, line 35 [Schedule 7], after ‘etc)’, insert— |
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| | (a) | the relevant securities or securities option shall not be treated as brought |
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| | to, or received or used in, the United Kingdom if the securities are, or the |
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| | securities option is, situated in the United Kingdom and cannot be |
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| Mr Chancellor of the Exchequer |
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| Page 182, line 1 [Schedule 7], leave out ‘those sections’ and insert ‘that Chapter’. |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 182, line 11 [Schedule 7], at end insert— |
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| | ‘(11) | See Chapter A1 of Part 14 of ITA 2007 for the meaning of “remitted |
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| | to the United Kingdom” etc.’. |
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| Page 183, line 4 [Schedule 7], at end insert— |
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| | ‘(7A) | This section is subject to section 41E (foreign securities income: just and |
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| | reasonable apportionment).’. |
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| Page 184, line 27 [Schedule 7], after ‘if’, insert ‘the relevant period or’. |
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| Page 184 [Schedule 7], leave out lines 30 to 32 and insert— |
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| | ‘(2) | The relevant period or the amount of the securities income that is “foreign” is |
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| | such period or such amount as is just and reasonable (rather than the period |
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| | calculated in accordance with section 41B or the amount calculated in accordance |
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| Mr Chancellor of the Exchequer |
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| Page 188, line 37 [Schedule 7], leave out ‘sections 809L to 809R’ and insert |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 191, line 4 [Schedule 7], leave out ‘sections 809L to 809T’ and insert |
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| |
| Mr Chancellor of the Exchequer |
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| | |
| Page 191, line 19 [Schedule 7], leave out from ‘in’ to end of line 20 and insert ‘— |
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| | (a) | the relevant tax year, or |
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| | (b) | any subsequent tax year except one in which the individual is |
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| | domiciled in the United Kingdom, |
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| | | are not allowable losses.’. |
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| Page 196, line 5 [Schedule 7], leave out paragraphs 80 to 91 and insert— |
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| | ‘80 | The amendments made by Part 1 of this Schedule shall have effect from the |
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| Page 196, line 37 [Schedule 7], at end insert— |
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| | ‘(2A) | Nothing in section 832 of ITTOIA 2005 (as amended by this Schedule) applies |
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| | in relation to any of an individual’s relevant foreign income that— |
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| | (a) | arose in tax year 2007/08 or any earlier tax year; and |
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| | (b) | has been brought to, or received, or used in, the United Kingdom by or |
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| | for the benefit of any relevant person at any time before 6th April |
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| | |
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| Mr Chancellor of the Exchequer |
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| | |
| Page 197, line 25 [Schedule 7], leave out sub-paragraphs (2) to (4) and insert— |
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| | ‘(2) | If, before 6 April 2008, property (including money) consisting of or deriving |
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| | from an individual’s relevant foreign income was brought to or received or |
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| | used in the United Kingdom by or for the benefit of a relevant person, treat the |
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| | relevant foreign income as not remitted to the United Kingdom on or after that |
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| | date (if it otherwise would be regarded as so remitted). |
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| | (3) | If, before 12 March 2008, property (other than money) consisting of or |
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| | deriving from an individual’s relevant foreign income was acquired by a |
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| | relevant person, treat the relevant foreign income as not remitted to the United |
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| | Kingdom on or after 6 April 2008 (if it otherwise would be regarded as so |
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| | |
| Mr Chancellor of the Exchequer |
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| | |
| Page 197, line 40 [Schedule 7], leave out ‘to (4)’ and insert ‘and (3)’. |
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