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113

 

House of Commons

 
 

Notices of Amendments

 

given on

 

Thursday 11 June 2009

 

For other Amendment(s) see the following page(s):

 

Finance Bill Committee 105-111

 

Public Bill Committee


 

Finance Bill

 

(Except Clauses 7, 8, 9, 11, 14, 16, 20 and 92)


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

182

 

Schedule  35,  page  283,  line  40,  after ‘paid’, insert ‘under this sub-paragraph or

 

under sub-paragraph (3A)’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

183

 

Schedule  35,  page  284,  line  11,  at end insert—

 

  ‘(3A)  

To the extent such amount exceeds that referred to in paragraph 8(3), relevant

 

added years contributions also include contributions paid—

 

(a)    

with a view to securing that the calculation of benefits under the

 

arrangement is by reference to a period of service in excess of

 

pensionable service by the individual; and

 

(b)    

which do not exceed the average amount of contributions made by the

 

individual in each of the three tax years ending 5 April 2009 (or if the

 

individual has not been a member of the pension scheme for those tax

 

years, the contributions made, in a case where he has been a member

 

for only one complete tax year, during that tax year, and the average

 

contributions, if he has been a member of this scheme for two

 

complete tax years, for those two tax years) or if provided that if in any

 

of those years the contribution exceeded the amount of the annual

 

allowance for that tax year (see section 228 of FA 2004) such

 

contribution shall be taken to be an amount equal to the annual

 

allowance for that tax year.’.


 
 

Notices of Amendments: 11 June 2009                     

114

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

184

 

Schedule  35,  page  284,  line  41,  after ‘paid’, insert ‘under this sub-paragraph or

 

under sub-paragraph (3A)’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

185

 

Schedule  35,  page  285,  line  6,  at end insert—

 

  ‘(4A)  

To the extent such amount exceeds that referred to in paragraph 9(3), relevant

 

added years contributions also include contributions paid—

 

(a)    

with a view to securing that the calculation of benefits under the

 

arrangement is by reference to a period of service in excess of

 

pensionable service by the individual; and

 

(b)    

which do not exceed the average amount of contributions made by the

 

individual in each of the three tax years ending 5 April 2009 (or if the

 

individual has not been a member of the pension scheme for those tax

 

years, the contributions made, in a case where he has been a member

 

for only one complete tax year, during that tax year, and the average

 

contributions, if he has been a member of this scheme for two

 

complete tax years, for those two tax years) or if provided that if in any

 

of those years the contribution exceeded the amount of the annual

 

allowance for that tax year (see section 228 of FA 2004) such

 

contribution shall be taken to be an amount equal to the annual

 

allowance for that tax year.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

186

 

Schedule  35,  page  285,  line  39,  after ‘paid’, insert ‘under this sub-paragraph or

 

under sub-paragraph (3A)’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

187

 

Schedule  35,  page  286,  line  4,  at end insert—

 

  ‘(3A)  

To the extent such amount exceeds that referred to in paragraph 10(3) or 10(5),

 

relevant added years contributions also include contributions paid—

 

(a)    

with a view to securing that the calculation of benefits under the

 

arrangement is by reference to a period of service in excess of

 

pensionable service by the individual; and

 

(b)    

which do not exceed the average amount of contributions made by the

 

individual in each of the three tax years ending 5 April 2009 (or if the

 

individual has not been a member of the pension scheme for those tax

 

years, the contributions made, in a case where he has been a member

 

for only one complete tax year, during that tax year, and the average

 

contributions, if he has been a member of this scheme for two

 

complete tax years, for those two tax years) or if provided that if in any

 

of those years the contribution exceeded the amount of the annual

 

allowance for that tax year (see section 228 of FA 2004) such


 
 

Notices of Amendments: 11 June 2009                     

115

 

Finance Bill, continued

 
 

contribution shall be taken to be an amount equal to the annual

 

allowance for that tax year.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

188

 

Schedule  35,  page  286,  line  42,  at end insert—

 

  ‘(2A)  

To the extent such amount exceeds that referred to in paragraph 11(2) the

 

amount arrived at under paragraph 3(2) in relation to the arrangement is a

 

protected pension input amount to the extent that it is attributable to

 

contributions paid which do not exceed the average amount of contributions

 

made by the individual in each of the three tax years ending 5 April 2009 (or

 

if the individual has not been a member of the pension scheme for those tax

 

years, the contributions made, in a case where he has been a member for only

 

one complete tax year, during that tax year, and the average contributions, if

 

he has been a member of this scheme for two complete tax years, for those two

 

tax years) provided that if in any of those years the contribution exceeded the

 

amount of the annual allowance for that tax year (see section 228 of FA 2004)

 

such contribution shall be taken to be an amount equal to the annual allowance

 

for that year.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

189

 

Schedule  35,  page  286,  line  44,  leave out first ‘the’ and insert ‘a’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

190

 

Schedule  35,  page  284,  line  3,  leave out ‘a quarterly’ and insert ‘an annual’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

191

 

Schedule  35,  page  284,  line  46,  leave out ‘a quarterly’ and insert ‘an annual’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

192

 

Schedule  35,  page  285,  line  44,  leave out ‘a quarterly’ and insert ‘an annual’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

193

 

Schedule  35,  page  286,  line  13,  leave out ‘a quarterly’ and insert ‘an annual’.


 
 

Notices of Amendments: 11 June 2009                     

116

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

194

 

Schedule  35,  page  286,  line  37,  leave out ‘a quarterly’ and insert ‘an annual’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

195

 

Schedule  35,  page  289,  line  20,  leave out ‘a quarterly’ and insert ‘an annual’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

196

 

Schedule  35,  page  290,  line  3,  leave out ‘a quarterly’ and insert ‘an annual’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

197

 

Schedule  35,  page  290,  line  3,  leave out from ‘contributions’ to end of line and

 

insert ‘which—

 

(a)    

are paid on a quarterly or more frequent basis pursuant to an agreement

 

for the payment of such contributions, or

 

(b)    

if paid less frequently than quarterly, half of the sum of the two highest

 

contributions made in the periods 6 April to 21 April in each of the tax

 

years 2006-07, 200-08 and 2008-09 and for these purposes if only one

 

such contribution has been made in those three periods, half of that

 

amount.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

198

 

Schedule  35,  page  279,  line  18,  leave out ‘£20,000’ and insert ‘£50,000’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

199

 

Schedule  35,  page  279,  line  24,  leave out ‘£20,000’ and insert ‘£50,000’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

200

 

Schedule  35,  page  279,  line  25,  leave out ‘£20,000’ and insert ‘£50,000’.


 
 

Notices of Amendments: 11 June 2009                     

117

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

201

 

Schedule  35,  page  280,  line  25,  leave out ‘£20,000’ and insert ‘£50,000’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

202

 

Schedule  35,  page  280,  line  36,  leave out from ‘year’ to end of line 38.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

203

 

Schedule  35,  page  280,  line  39,  leave out sub-paragraph (2).

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

204

 

Schedule  35,  page  291,  line  7,  at end insert ‘but this Schedule shall not apply where

 

the individual concerned is aged 50 or over at some time in the tax years 2009-10 and

 

2010-11.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

205

 

Schedule  35,  page  290,  line  21,  leave out paragraph 18.

 

Mr Stephen Timms

 

206

 

Clause  57,  page  27,  line  27,  leave out subsection (2).

 

Mr Stephen Timms

 

207

 

Clause  59,  page  28,  line  16,  after ‘made’ insert ‘under the law of a territory outside

 

the United Kingdom’.

 

Mr Stephen Timms

 

208

 

Clause  59,  page  29,  line  6,  after ‘made’ insert ‘under the law of a territory outside

 

the United Kingdom’.

 

Mr Stephen Timms

 

209

 

Clause  60,  page  29,  line  36,  leave out ‘paragraph (b) and (c)’ and insert ‘subsection

 

(3)’.

 

Mr Stephen Timms

 

210

 

Clause  60,  page  30,  line  4,  leave out ‘paragraph (b) and (c) total’ and insert


 
 

Notices of Amendments: 11 June 2009                     

118

 

Finance Bill, continued

 
 

‘subsection (3) total (before the application of subsection (3B))’.

 

Mr Stephen Timms

 

211

 

Clause  60,  page  30,  leave out lines 11 to 13.

 

Mr Stephen Timms

 

212

 

Clause  60,  page  30,  line  15,  at end insert—

 

‘“subsection (3) total” means the amount to be taken into account under

 

subsection (3) for the purposes of section 797(1).’.

 

Mr Stephen Timms

 

213

 

Clause  70,  page  34,  line  24,  leave out ‘section 105A’ and insert ‘sections 105A and

 

105B’.

 

Mr Stephen Timms

 

214

 

Clause  70,  page  34,  leave out lines 35 to 37 and insert—

 

‘(d)    

the net amount payable by P in relation to the lease by way of lease

 

premium is greater than zero.’.

 

Mr Stephen Timms

 

215

 

Clause  70,  page  34,  line  43,  leave out from ‘the’ to end of line 21 on page 35 and

 

insert ‘net amount payable by P in relation to the lease by way of lease premium.

 

(3)    

For provision about the application of this section in relation to certain

 

leases with break clauses, see section 105B.

 

(4)    

For the purposes of this section the net amount payable by P in relation

 

to a lease by way of lease premium is—

 

(a)    

the total amount (if any) that has been paid, or is or will become

 

payable, by P in relation to the lease by way of lease premium,

 

less

 

(b)    

any amount within paragraph (a) that has been repaid or is or will

 

become repayable.

 

(5)    

In this section and section 105B “lease premium” means any premium

 

payable—

 

(a)    

under a lease, or

 

(b)    

otherwise under the terms on which a lease is granted.

 

(6)    

In the application of this section to Scotland, “premium” includes a

 

grassum.

 

105B  

Lease premiums in the case of leases with break clauses

 

(1)    

This section applies to a lease (“the original lease”) that contains one or

 

more relevant break clauses.

 

(2)    

For the purposes of this section—

 

(a)    

“break clause” means a provision of a lease that gives a person a

 

right to terminate it so that its term is shorter than it otherwise

 

would be, and


 
 

Notices of Amendments: 11 June 2009                     

119

 

Finance Bill, continued

 
 

(b)    

a break clause contained in the original lease is “relevant” if the

 

right to terminate the lease that it confers is capable of being

 

exercised in such a way that the term of the original lease is 10

 

years or less.

 

(3)    

For the purposes of section 105A—

 

(a)    

the term of the original lease, and

 

(b)    

the net amount payable by P in relation to the lease by way of

 

lease premium,

 

    

are to be determined on the assumption that any relevant break clause is

 

exercised in such a way that the term of the lease is as short as possible.

 

(4)    

If a relevant break clause is not in fact exercised in such a way that the

 

term of the original lease is as short as possible, the parties to the lease

 

are treated for the purposes of section 105A as if they were parties to

 

another lease (a “notional lease”) the term of which—

 

(a)    

begins immediately after the time at which the term of the

 

original lease would have ended, if that break clause had been so

 

exercised, and

 

(b)    

ends at the time mentioned in subsection (5).

 

(5)    

The term of a notional lease ends—

 

(a)    

at the time the term of the original lease would end, on the

 

assumption that any relevant break clause that is exercisable only

 

after the beginning of the term of the notional lease is exercised

 

in such a way that the term of the original lease is as short as

 

possible, or

 

(b)    

if earlier, the tenth anniversary of the beginning of the term of the

 

original lease.

 

(6)    

For the purposes of section 105A, the net amount payable by P in relation

 

to a notional lease by way of lease premium is, in the case of a notional

 

lease the term of which ends under paragraph (a) of subsection (5)—

 

(a)    

the net amount that would be payable by P in relation to the

 

original lease by way of lease premium on the assumption

 

mentioned in that paragraph, less

 

(b)    

any part of that amount that has already been attributed to a

 

period in respect of a lease premium under section 105(4B)(b).

 

(7)    

For the purposes of section 105A, the net amount payable by P in relation

 

to a notional lease by way of lease premium is, in the case of notional

 

lease the term of which ends under paragraph (b) of subsection (5), the

 

relevant proportion of—

 

(a)    

the net amount that would be payable by P in relation to the

 

original lease by way of lease premium, on the assumption that

 

no break clause is exercised, less

 

(b)    

any part of that amount that has already been attributed to a

 

period in respect of a lease premium under section 105(4B)(b).

 

(8)    

In subsection (7) “the relevant proportion” means—

                                                        D
                                                        E

 

    

where—

 

D is the term of the notional lease (in days);

 

E is the sum of—


 
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