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177

 

House of Commons

 
 

Tuesday 23 June 2009

 

Public Bill Committee

 

New Amendments handed in are marked thus Parliamentary Star

 

Parliamentary Star - whiteAmendments which will comply with the required notice period at their next appearance

 

Finance Bill


 

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


 

Note

 

The Amendments have been arranged according to the Order of the Committee

 

[19 May 2009].

 


 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

75

 

Clause  91,  page  45,  line  2,  leave out ‘aspire’ and insert ‘use all reasonable

 

endeavours to achieve’.

 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

76

 

Clause  91,  page  45,  line  3,  at end insert ‘and set out the rights and responsibilities

 

of taxpayers and other persons with whom HMRC deals’.

 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

77

 

Clause  91,  page  45,  line  5,  leave out ‘regularly’.


 
 

Public Bill Committee: 23 June 2009                     

178

 

Finance Bill, continued

 
 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

78

 

Clause  91,  page  45,  line  5,  after ‘review’, insert ‘at least once every year’.

 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

79

 

Clause  91,  page  45,  line  5,  after ‘review’, insert ‘at least once every 3 years’.

 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

80

 

Clause  91,  page  45,  line  5,  leave out ‘and’ and insert—

 

‘(b)    

consult with stakeholders in carrying out the review, and’.

 


 

Mr Stephen Timms

 

269

 

Schedule  46,  page  338,  line  34,  leave out ‘large’ and insert ‘qualifying’.

 

Mr Stephen Timms

 

270

 

Schedule  46,  page  338,  line  35,  leave out ‘and each of its subsidiaries (if any)’.

 

Mr Stephen Timms

 

271

 

Schedule  46,  page  339,  line  1,  leave out ‘large’ and insert ‘qualifying’.

 

Mr Stephen Timms

 

272

 

Schedule  46,  page  339,  line  3,  leave out ‘and its subsidiaries (if any)’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

223

 

Schedule  46,  page  339,  line  6,  at end insert—

 

‘(3)    

The Treasury may by regulations define appropriate accounting arrangements.’.

 

Mr Stephen Timms

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

219

 

Schedule  46,  page  339,  line  8,  leave out paragraph 2.


 
 

Public Bill Committee: 23 June 2009                     

179

 

Finance Bill, continued

 
 

Mr Stephen Timms

 

273

 

Schedule  46,  page  339,  line  18,  leave out ‘large’ and insert ‘qualifying’.

 

Mr Stephen Timms

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

220

 

Schedule  46,  page  339,  line  19,  leave out ‘Type A or Type B’.

 

Mr Stephen Timms

 

274

 

Schedule  46,  page  339,  leave out lines 21 to 25 and insert—

 

      ‘()  

The certificate must—

 

(a)    

state whether the company’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

221

 

Schedule  46,  page  339,  line  21,  leave out subsection (2).

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

222

 

Schedule  46,  page  339,  line  24,  leave out ‘Type B’.

 

Mr Stephen Timms

 

275

 

Schedule  46,  page  339,  line  28,  leave out ‘giving’ and insert ‘if it did not, give’.

 

Mr Stephen Timms

 

276

 

Schedule  46,  page  339,  line  29,  leave out ‘and its subsidiaries (if any)’.

 

Mr Stephen Timms

 

277

 

Schedule  46,  page  339,  line  30,  leave out from ‘arrangements’ to end of line 32.

 

Mr Stephen Timms

 

278

 

Schedule  46,  page  339,  line  36,  after third ‘the’, insert ‘company’s’.

 

Mr Stephen Timms

 

279

 

Schedule  46,  page  339,  line  38,  at end insert—

 

      ‘()  

A certificate may relate to more than one qualifying company.’.


 
 

Public Bill Committee: 23 June 2009                     

180

 

Finance Bill, continued

 
 

Mr Stephen Timms

 

280

 

Schedule  46,  page  339,  line  40,  leave out ‘large company must notify the

 

Commissioners’ and insert ‘qualifying company must ensure that the Commissioners are

 

notified’.

 

Mr Stephen Timms

 

281

 

Schedule  46,  page  340,  line  3,  after third ‘the’, insert ‘company’s’.

 

Mr Stephen Timms

 

282

 

Schedule  46,  page  340,  line  6,  at end insert—

 

      ‘()  

A notification may relate to more than one qualifying company.’.

 

Mr Stephen Timms

 

283

 

Schedule  46,  page  340,  line  14,  leave out paragraph 6.

 

Mr Stephen Timms

 

284

 

Schedule  46,  page  340,  leave out lines 37 to 40.

 

Mr Stephen Timms

 

285

 

Schedule  46,  page  341,  line  6,  leave out ‘2 or’.

 

Mr Stephen Timms

 

286

 

Schedule  46,  page  341,  line  7,  leave out ‘6 or’.

 

Mr Stephen Timms

 

287

 

Schedule  46,  page  341,  line  11,  leave out ‘large’ and insert ‘qualifying’.

 

Mr Stephen Timms

 

288

 

Schedule  46,  page  341,  line  11,  leave out ‘it fails to notify the Commissioners of

 

the name’ and insert ‘, for a financial year, the Commissioners are not notified of the name

 

or names’.

 

Mr Stephen Timms

 

289

 

Schedule  46,  page  341,  line  16,  leave out ‘large’ and insert ‘qualifying’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

224

 

Schedule  46,  page  341,  line  28,  at end insert—

 

‘(3)    

For the purposes of this Schedule a reasonable excuse for failure to comply

 

includes any circumstance where the failure is attributable to any matter outside


 
 

Public Bill Committee: 23 June 2009                     

181

 

Finance Bill, continued

 
 

the person’s control or any matter of which a person could not reasonably be

 

expected to be aware.’.

 

Mr Stephen Timms

 

290

 

Schedule  46,  page  341,  line  30,  leave out ‘large’ and insert ‘qualifying’.

 

Mr Stephen Timms

 

291

 

Schedule  46,  page  341,  line  40,  after third ‘the’ insert ‘company’s’.

 

Mr Stephen Timms

 

292

 

Schedule  46,  page  341,  line  41,  at end insert—

 

      ‘()  

HMRC may not assess a person who is the senior accounting officer of a

 

company (“C”) as liable to a penalty under paragraph 5 or 7 for a financial year

 

(“the relevant financial year”) if—

 

(a)    

at any time in the relevant financial year the person was the senior

 

accounting officer of another company that was a member of the same

 

group as C, and

 

(b)    

HMRC has assessed the person as liable, as the senior accounting

 

officer of the other company, to a penalty under that paragraph for a

 

financial year that ends on a day in the relevant financial year.

 

      ()  

HMRC may not assess a company (“C”) as liable to a penalty under paragraph

 

9 for a financial year (“the relevant financial year”) if—

 

(a)    

C was a member of a group at the end of that year, and

 

(b)    

HMRC has assessed another company that was a member of the same

 

group as C at that time as liable to a penalty under that paragraph—

 

(i)    

for its financial year ending on the same day as the relevant

 

financial year, or

 

(ii)    

if its financial year does not end on that day, for its financial

 

year ending last before that day.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

225

 

Schedule  46,  page  341,  line  41,  at end insert—

 

‘(3)    

No penalty may be assessed under paragraphs 5 to 7 of this Schedule if the matter

 

in question has given rise to any civil or criminal penalty under any other

 

legislation or enactment whatsoever.’.

 

Mr Stephen Timms

 

293

 

Schedule  46,  page  342,  line  25,  leave out ‘6,’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

268

 

Schedule  46,  page  343,  line  2,  leave out paragraph 16 and insert—

 

‘15A      

The Treasury may by regulations define “appropriate tax accounting

 

arrangements”.’.


 
 

Public Bill Committee: 23 June 2009                     

182

 

Finance Bill, continued

 
 

Mr Stephen Timms

 

294

 

Schedule  46,  page  343,  line  3,  leave out from ‘enable’ to end of line 4 and insert

 

‘the company’s relevant liabilities to be calculated accurately in all material respects.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

226

 

Schedule  46,  page  343,  line  4,  after ‘calculated’, insert ‘reasonably’.

 

Mr Stephen Timms

 

295

 

Schedule  46,  page  343,  leave out lines 7 and 8 and insert—

 

      ‘()  

“Relevant liabilities”, in relation to a company, means liabilities in respect

 

of—

 

(a)    

corporation tax (including any amount assessable or chargeable as if it

 

were corporation tax),

 

(b)    

value added tax,

 

(c)    

amounts for which the company is accountable under PAYE

 

regulations,

 

(d)    

insurance premium tax,

 

(e)    

stamp duty land tax,

 

(f)    

stamp duty reserve tax,

 

(g)    

petroleum revenue tax,

 

(h)    

customs duties, and

 

(i)    

excise duties.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

227

 

Schedule  46,  page  343,  line  8,  at end insert—

 

‘(4)    

Accounting arrangements are to be regarded as enabling the liability to taxes and

 

duties of the company to be calculated reasonably accurately if the accuracy with

 

which those liabilities can be calculated is within the normal bounds of

 

materiality as that principle is defined for accounting purposes.’.

 

Mr Stephen Timms

 

296

 

Schedule  46,  page  343,  leave out lines 10 to 15 and insert—

 

‘Meaning of “qualifying company”

 

17  (1)  

A company is a qualifying company in relation to a financial year if the

 

qualification test was satisfied in the previous financial year (subject to any

 

regulations under sub-paragraph (2)).

 

    (1A)  

The qualification test is that the company satisfied either or both of the

 

following requirements—

 

1. Relevant turnover

More than £200 million

 
 

2. Relevant balance sheet total

More than £2 billion.

 

 
 

Public Bill Committee: 23 June 2009                     

183

 

Finance Bill, continued

 
 

    (1B)  

If the company was not a member of a group at the end of the previous

 

financial year—

 

(a)    

“relevant turnover” means the company’s turnover, and

 

(b)    

“relevant balance sheet total” means the company’s balance sheet

 

total.

 

    (1C)  

If the company was a member of a group at the end of the previous financial

 

year—

 

(a)    

“relevant turnover” means the aggregate turnover of the company

 

(“C”) and any other company that was a member of the same group as

 

C at the end of C’s previous financial year, and

 

(b)    

“relevant balance sheet total” means the aggregate balance sheet totals

 

of C and any such company.

 

    (1D)  

If the financial year of a company that was a member of the same group as C

 

does not end on the same day as C’s previous financial year, the figures for that

 

company that are to be included in the aggregate figures are the figures for that

 

company’s financial year ending last before the end of C’s previous financial

 

year.

 

    (1E)  

“Turnover”, in relation to a company, has the same meaning as in Part 15 of

 

the Companies Act 2006 (see section 474 of that Act).

 

    (1F)  

“Balance sheet total”, in relation to a company and a financial year, means the

 

aggregate of the amounts shown as assets in the company’s balance sheet as at

 

the end of the financial year.’.

 

Mr Stephen Timms

 

297

 

Schedule  46,  page  343,  line  17,  leave out ‘large’ and insert ‘qualifying’.

 

Mr Stephen Timms

 

298

 

Schedule  46,  page  343,  leave out lines 20 to 22 and insert—

 

      ‘()  

“Senior accounting officer”, in relation to a company that is not a member of

 

a group, means the director or officer who, in the company’s reasonable

 

opinion, has overall responsibility for the company’s financial accounting

 

arrangements.

 

      ()  

“Senior accounting officer”, in relation to a company that is a member of a

 

group, means the group director or officer who, in the company’s reasonable

 

opinion, has overall responsibility for the company’s financial accounting

 

arrangements.

 

      ()  

“Group director or officer”, in relation to a company, means a director or

 

officer of the company or of a relevant body that is a member of the same group

 

as the company.

 

      ()  

A person may be the senior accounting officer of more than one company.’.

 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

65

 

Schedule  46,  page  343,  line  20,  leave out ‘or officer’.

 

Mr Stephen Timms

 

299

 

Schedule  46,  page  343,  leave out lines 29 to 32.


 
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