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Public Bill Committee: 23 June 2009                     

191

 

Finance Bill, continued

 
 

Mr Stephen Timms

 

325

 

Schedule  61,  page  430,  line  19,  leave out ‘imposed on it, or security granted over

 

it,’ and insert ‘or security registered’.

 

Mr Stephen Timms

 

326

 

Schedule  61,  page  430,  line  20,  leave out ‘that condition is complied with’ and

 

insert—

 

‘(a)    

Q provides HMRC with the prescribed evidence that condition G is

 

met in relation to the original land, and

 

(b)    

condition D is met’.

 

Mr Stephen Timms

 

327

 

Schedule  61,  page  430,  line  23,  leave out ‘imposed on it, or security granted over

 

it,’ and insert ‘or security registered’.

 

Mr Stephen Timms

 

328

 

Schedule  61,  page  430,  line  25,  after ‘that’, insert—

 

‘(a)    

condition G is met in relation to the original land, and

 

(b)    

’.

 

Mr Stephen Timms

 

329

 

Schedule  61,  page  430,  line  36,  after ‘charge’, insert ‘on land in England and

 

Wales’.

 

Mr Stephen Timms

 

330

 

Schedule  61,  page  430,  line  38,  leave out ‘and’.

 

Mr Stephen Timms

 

331

 

Schedule  61,  page  430,  line  39,  after ‘security’, insert ‘granted over land in

 

Scotland’.

 

Mr Stephen Timms

 

332

 

Schedule  61,  page  430,  line  40,  at end insert ‘and

 

‘(c)    

in the case of a charge on land in Northern Ireland, notify the Registrar

 

of Titles of the discharge.’.

 



 
 

Public Bill Committee: 23 June 2009                     

192

 

Finance Bill, continued

 
 

New Clauses

 

Taxation: general anti-avoidance principle

 

Mr Michael Meacher

 

NC1

 

To move the following Clause:—

 

‘(1)    

If, when determining the liability of a person to taxation, duty or similar charge

 

due under statute in the United Kingdom, it shall be estimated that a step or steps

 

have been included in a transaction giving rise to that liability or to any claim for

 

an allowance, deduction or relief, with such steps having been included for the

 

sole or one of the main purposes of securing a reduction in that liability to

 

taxation, deduction or similar charge with no other material economic purpose for

 

the inclusion of such a step being capable of demonstration by the taxpayer, then,

 

subject to the sole exception that the step or steps in question are specifically

 

permitted under the terms of any legislation promoted for the specific purpose of

 

permitting such use, such step or steps shall be ignored when calculating the

 

resulting liability to taxation, duty or similar charge.

 

(2)    

In the interpretation of this provision a construction that would promote the

 

purpose or object underlying the provision shall be preferred to a construction

 

that would not promote that purpose or object.’.

 


 

Personal allowances for 2009-10 for those aged over 65

 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

NC2

 

To move the following Clause:—

 

‘(1)    

For the tax year 2009-10 the amount specified in—

 

(a)    

section 36 of ITA 2007, and

 

(b)    

section 257(2) of ICTA,

 

    

(personal allowance for those aged 65 to 74) is replaced with “£11,490”.

 

(2)    

For the tax year 2009-10 the amount specified in—

 

(a)    

section 37 of ITA 2007, and

 

(b)    

section 257(3) of ICTA,

 

    

(personal allowance for those aged 75 and over) is replaced with “£11,640”’.

 



 
 

Public Bill Committee: 23 June 2009                     

193

 

Finance Bill, continued

 
 

Thresholds for residential property

 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

NC3

 

To move the following Clause:—

 

‘(1)    

A land transaction is exempt from the charge to stamp duty land tax if—

 

(a)    

it is a relevant acquisition of land which consists entirely of residential

 

property,

 

(b)    

the relevant chargeable consideration for the transaction is not more than

 

£250,000, and

 

(c)    

the purchaser is a first time purchaser.

 

(2)    

In paragraph (1)(a) a “relevant acquisition of land” means an acquisition of a

 

major interest in land other than—

 

(a)    

the grant of a lease for a term of less than 21 years, or

 

(b)    

the assignment of a lease which has less than 21 years to run.

 

(3)    

In paragraph (1)(b) the “relevant chargeable consideration for the transaction”

 

means—

 

(a)    

the chargeable consideration for the transaction, or

 

(b)    

where the transaction is one of a number of linked transactions, the total

 

of the chargeable consideration for all those transactions.

 

(4)    

The Treasury shall by regulation define the meaning of “first time purchaser.”’.

 


 

Publication of taxpayer ‘gold list’

 

Mr David Gauke

 

Mr Mark Hoban

 

Mr Greg Hands

 

 

NC4

 

To move the following Clause:—

 

‘(1)    

The Commissioners may publish a list of taxpayers who, in the opinion of the

 

Commissioners, have performed their tax paying and reporting obligations in an

 

exemplary manner.

 

(2)    

The details of a taxpayer identified under subsection (1) shall be as agreed

 

between the Commissioners and the taxpayer.

 

(3)    

In making an assessment of the inclusion of a taxpayer for publication under

 

subsection (1), the Commissioners shall take into account the size and complexity

 

of the taxpayers’ affairs.

 

(4)    

The Commissioners shall not refuse to list a taxpayer under subsection (1) on the

 

grounds that—

 

(a)    

the taxpayer has taken reasonable measures to minimise his tax liability,

 

or

 

(b)    

the taxpayer, acting in good faith, is in dispute with HM Revenue and

 

Customs.


 
 

Public Bill Committee: 23 June 2009                     

194

 

Finance Bill, continued

 
 

(5)    

The Commissioners must publish guidance as to the criteria that shall be used in

 

assessing whether a taxpayer should be identified under subsection (1).

 

(6)    

The Commissioners must consult with stakeholders before publishing any

 

guidance under subsection (5).’.

 


 

Mileage allowance payments

 

Dr Vincent Cable

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Dr John Pugh

 

NC5

 

Parliamentary Star    

To move the following Clause:—

 

‘(1)    

Section 230 of ITEPA 2003 is amended as follows.

 

(2)    

In the table in subsection (2), for “40p” substitute “45p”.

 

(3)    

Insert at the end of subsection (6)—

 

“(7)    

The Treasury shall publish annually a report setting out its assessment of

 

the impact of the rates under subsection (2) on the level of participation

 

of volunteers in community transport schemes.

 

(8)    

A report under subsection (7) is subject to approval by resolution of the

 

House of Commons.”’.

 


 

IR35: income tax

 

Dr Vincent Cable

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Dr John Pugh

 

NC6

 

Parliamentary Star    

To move the following Clause:—

 

‘(1)    

Schedule 12 of FA 2000 shall cease to have effect.

 

(2)    

Part 2 of Chapter 8 of ITEPA 2003 shall cease to have effect.

 

(3)    

This section has effect from the day on which this Act is passed.’.

 



 
 

Public Bill Committee: 23 June 2009                     

195

 

Finance Bill, continued

 
 

Taxation status of Members of the House of Commons and House of Lords

 

Dr Vincent Cable

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Dr John Pugh

 

NC7

 

Parliamentary Star    

To move the following Clause:—

 

‘(1)    

A Member of the House of Commons or House of Lords is deemed to be resident,

 

ordinarily resident and domiciled in the United Kingdom and in no other country

 

for taxation purposes.

 

(2)    

This clause does not apply to a Member of the House of Lords who has been

 

granted leave of absence and remains on a leave of absence thereafter.

 

(3)    

This section has effect from the day on which this Act is passed.’.

 


 

Private residential exemption from capital gains tax

 

Dr Vincent Cable

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Dr John Pugh

 

NC8

 

Parliamentary Star    

To move the following Clause:—

 

‘(1)    

Part 9 of TCGA 1992 is amended as follows.

 

(2)    

In subsection 222(5) (relief on disposal of private residence)—

 

(a)    

leave out paragraph (a) and insert—

 

“(a)    

the Commissioners must notify, in writing, the

 

individual of the notice requirement in paragraph (aa),

 

(aa)    

the individual must give notice to the inspector within

 

six months from the date on which the notification under

 

paragraph (a) was received but subject to a right to vary

 

that notice by a further notice to the inspector as respects

 

any period beginning not earlier than six months before

 

the giving of the further notice,”, and

 

(b)    

in paragraph (b) leave out “(a)” and insert “(aa)”.

 

(3)    

Insert after subsection 223(2)—

 

“(2A)    

Subsections (1) and (2) do not apply where an individual has varied a

 

notice under section 222(5)(aa) to the effect that an individual’s previous

 

main residence has been redesignated as their main residence.”.

 

(4)    

The amendments made by this section have effect for the tax year 2010-11 and

 

subsequent tax years.’.

 



 
 

Public Bill Committee: 23 June 2009                     

196

 

Finance Bill, continued

 
 

Furnished holiday lettings

 

Dr Vincent Cable

 

Mr Jeremy Browne

 

Mr Colin Breed

 

Dr John Pugh

 

NC9

 

Parliamentary Star    

To move the following Clause:—

 

‘(1)    

The Chancellor of the Exchequer shall, before the publication of the 2009 Pre-

 

Budget Report, have compiled and laid before the House of Commons a report

 

containing an assessment of the impact of—

 

(a)    

section 503 of ICTA, and

 

(b)    

chapter 6 of part 3 of ITTOIA 2005,

 

    

on the liability to tax of commercially-let furnished holiday accommodation.

 

(2)    

A Minister of the Crown must, not later than one month after the report has been

 

laid before the House of Commons, make a motion in that House in relation to the

 

report.’.

 


 

Office of Budget Responsibility

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

NC10

 

Parliamentary Star    

To move the following Clause:—

 

‘(1)    

The Treasury shall establish an Office of Budget Responsibility.

 

(2)    

Its mandate shall be to work towards the establishment of—

 

(a)    

a balanced current budget adjusted for the economic cycle,

 

(b)    

falling debt as a percentage of GDP.

 

(3)    

The regulations shall specify that the functions of the Office of Budget

 

Responsibility and they will include—

 

(a)    

producing fiscal forecasts at least once a year in advance of the Budget,

 

(b)    

producing short term forecasts of the state of the public finances, these

 

will include the Office of Budget Responsibility’s best estimate of all

 

current and future government liabilities,

 

(c)    

a forward looking judgement of the sustainability of the public finances,

 

and

 

(d)    

to make recommendations to Parliament on delivering the mandate in

 

subsection (2).

 

(4)    

The regulations shall specify the governance arrangements of the Office of

 

Budget Responsibility.

 

(5)    

Regulations made under this section may not be made unless they have been laid

 

before, and approved by a resolution of, each House of Parliament.’.

 


 
 

Public Bill Committee: 23 June 2009                     

197

 

Finance Bill, continued

 
 

Order of the House [6 MAY 2009]

 

That the following provisions shall apply to the Finance Bill:

 

 

1.    

Clauses 7, 8, 9, 11, 14, 16, 20 and 92 be committed to a Committee of the

 

whole House;

 

2.    

the remainder of the Bill be committed to a Public Bill Committee; and

 

3.    

when the provisions of the Bill considered by the Committee of the whole

 

House and the Public Bill Committee have been reported to the House, the

 

Bill be proceeded with as if it had been reported as a whole to the House from

 

the Public Bill Committee.

 

 

Resolution of the Committee [19 May 2009]

 

That the Committee shall meet—

 

    on Tuesdays at 10.30 a.m. and 4.30 p.m., and

 

    on Thursdays (other than Thursday 4 June) at 9.00 a.m. and 1.00 p.m.,

 

  when the House is sitting.

 

 

Order of the Committee [19 May 2009]

 

That the order in which proceedings are taken shall be: Clauses 1 to 5; Schedule 1;

 

Clause 6; Schedules 2 and 3; Clauses 10, 12, and 13; Schedule 4; Clauses 15 and 17;

 

Schedule 5; Clauses 18, 19 and 21 to 23; Schedule 6; Clauses 24 to 26; Schedule 7; Clause

 

27; Schedule 8; Clause 28; Schedule 9; Clause 29; Schedule 10; Clause 30; Schedule 11;

 

Clause 31; Schedule 12; Clause 32; Schedule 13; Clauses 33 and 34; Schedule 14; Clause

 

35; Schedule 15; Clause 36; Schedule 16; Clause 37; Schedule 17; Clause 38; Schedule

 

18; Clauses 39 and 40; Schedule 19; Clause 41; Schedule 20; Clauses 42 and 43; Schedule

 

21; Clause 44; Schedule 22; Clauses 45 and 46; Schedule 23; Clauses 47 and 48; Schedule

 

24; Clause 49; Schedule 25; Clause 50; Schedule 26; Clause 51; Schedule 27; Clauses 52

 

and 53; Schedule 28; Clauses 54 to 58; Schedule 29; Clauses 59 to 61; Schedule 30;

 

Clause 62; Schedule 31; Clause 63; Schedule 32; Clause 64; Schedule 33; Clause 65;

 

Schedule 34; Clauses 66 to 71; Schedule 35; Clauses 72 to 75; Schedule 36; Clauses 76

 

to 82; Schedule 37; Clause 83; Schedule 38; Clause 84; Schedule 39; Clause 85; Schedule

 

40; Clause 86; Schedule 41; Clause 87; Schedule 42; Clause 88; Schedule 43; Clause 89;

 

Schedule 44; Clause 90; Schedule 45; Clause 91; Schedule 46; Clauses 93 and 94;

 

Schedule 47; Clause 95; Schedule 48; Clause 96; Schedule 49; Clause 97; Schedule 50;

 

Clause 98; Schedule 51; Clause 99; Schedule 52; Clause 100; Schedule 53; Clause 101;

 

Schedule 54; Clauses 102 to 105; Schedule 55; Clause106; Schedule 56; Clauses 107 and

 

108; Schedule 57; Clause 109; Schedule 58; Clauses 110 to 117; Schedule 59; Clause 118;

 

Schedule 60; Clauses 119 to 122; Schedule 61; Clauses 123 and 124; new Clauses; new

 

Schedules; Clauses 125 and 126

 


 
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