|
|
| |
| |
|
| |
| |
| |
| [Fifteenth and Sixteenth Sittings]
|
|
| |
| |
| |
| | |
| Clause 91, page 45, line 2, leave out ‘aspire’ and insert ‘use all reasonable |
|
| |
| |
| |
| |
| | |
| 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’. |
|
| |
| |
| |
| | |
| Clause 91, page 45, line 5, leave out ‘regularly’. |
|
| |
| |
| |
| | |
| Clause 91, page 45, line 5, after ‘review’, insert ‘at least once every year’. |
|
| |
| |
| |
| | |
| Clause 91, page 45, line 5, after ‘review’, insert ‘at least once every 3 years’. |
|
|
|
| |
| |
|
| |
| |
| |
| | |
| Clause 91, page 45, line 5, leave out ‘and’ and insert— |
|
| | ‘(b) | consult with stakeholders in carrying out the review, and’. |
|
| | |
| |
| |
| | |
| Schedule 46, page 338, line 34, leave out ‘large’ and insert ‘qualifying’. |
|
| |
| | |
| Schedule 46, page 338, line 35, leave out ‘and each of its subsidiaries (if any)’. |
|
| |
| | |
| Schedule 46, page 339, line 1, leave out ‘large’ and insert ‘qualifying’. |
|
| |
| | |
| Schedule 46, page 339, line 3, leave out ‘and its subsidiaries (if any)’. |
|
| |
| |
| |
| | |
| Schedule 46, page 339, line 6, at end insert— |
|
| | ‘(3) | The Treasury may by regulations define appropriate accounting arrangements.’. |
|
| |
| |
| |
| |
| | |
| Schedule 46, page 339, line 8, leave out paragraph 2. |
|
| |
| | |
| Schedule 46, page 339, line 18, leave out ‘large’ and insert ‘qualifying’. |
|
| |
| |
| |
| |
| | |
| Schedule 46, page 339, line 19, leave out ‘Type A or Type B’. |
|
|
|
| |
| |
|
| |
| | |
| Schedule 46, page 339, leave out lines 21 to 25 and insert— |
|
| | ‘() | The certificate must— |
|
| | (a) | state whether the company’. |
|
| |
| |
| |
| | |
| Schedule 46, page 339, line 21, leave out subsection (2). |
|
| |
| |
| |
| | |
| Schedule 46, page 339, line 24, leave out ‘Type B’. |
|
| |
| | |
| Schedule 46, page 339, line 28, leave out ‘giving’ and insert ‘if it did not, give’. |
|
| |
| | |
| Schedule 46, page 339, line 29, leave out ‘and its subsidiaries (if any)’. |
|
| |
| | |
| Schedule 46, page 339, line 30, leave out from ‘arrangements’ to end of line 32. |
|
| |
| | |
| Schedule 46, page 339, line 36, after third ‘the’, insert ‘company’s’. |
|
| |
| | |
| Schedule 46, page 339, line 38, at end insert— |
|
| | ‘() | A certificate may relate to more than one qualifying company.’. |
|
| |
| | |
| Schedule 46, page 339, line 40, leave out ‘large company must notify the |
|
| Commissioners’ and insert ‘qualifying company must ensure that the Commissioners are |
|
| |
| |
| | |
| Schedule 46, page 340, line 3, after third ‘the’, insert ‘company’s’. |
|
| |
| | |
| Schedule 46, page 340, line 6, at end insert— |
|
|
|
| |
| |
|
| | ‘() | A notification may relate to more than one qualifying company.’. |
|
| |
| | |
| Schedule 46, page 340, line 14, leave out paragraph 6. |
|
| |
| | |
| Schedule 46, page 340, leave out lines 37 to 40. |
|
| |
| | |
| Schedule 46, page 341, line 6, leave out ‘2 or’. |
|
| |
| | |
| Schedule 46, page 341, line 7, leave out ‘6 or’. |
|
| |
| | |
| Schedule 46, page 341, line 11, leave out ‘large’ and insert ‘qualifying’. |
|
| |
| | |
| 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 |
|
| |
| |
| | |
| Schedule 46, page 341, line 16, leave out ‘large’ and insert ‘qualifying’. |
|
| |
| |
| |
| | |
| 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 |
|
| | the person’s control or any matter of which a person could not reasonably be |
|
| | |
| |
| | |
| Schedule 46, page 341, line 30, leave out ‘large’ and insert ‘qualifying’. |
|
| |
| | |
| Schedule 46, page 341, line 40, after third ‘the’ insert ‘company’s’. |
|
|
|
| |
| |
|
| |
| | |
| 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 |
|
| | |
| | (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 |
|
| | |
| | (ii) | if its financial year does not end on that day, for its financial |
|
| | year ending last before that day.’. |
|
| |
| |
| |
| | |
| 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.’. |
|
| |
| | |
| Schedule 46, page 342, line 25, leave out ‘6,’. |
|
| |
| |
| |
| | |
| Schedule 46, page 343, line 2, leave out paragraph 16 and insert— |
|
| | ‘15A | The Treasury may by regulations define “appropriate tax accounting |
|
| | |
| |
| | |
| 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.’. |
|
| |
| |
| |
| | |
| Schedule 46, page 343, line 4, after ‘calculated’, insert ‘reasonably’. |
|
|
|
| |
| |
|
| |
| | |
| Schedule 46, page 343, leave out lines 7 and 8 and insert— |
|
| | ‘() | “Relevant liabilities”, in relation to a company, means liabilities in respect |
|
| | |
| | (a) | corporation tax (including any amount assessable or chargeable as if it |
|
| | |
| | |
| | (c) | amounts for which the company is accountable under PAYE |
|
| | |
| | (d) | insurance premium tax, |
|
| | |
| | (f) | stamp duty reserve tax, |
|
| | (g) | petroleum revenue tax, |
|
| | |
| | |
| |
| |
| |
| | |
| 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.’. |
|
| |
| | |
| 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 |
|
| | |
| | | | | | 2. Relevant balance sheet total |
| | | |
|
| | (1B) | If the company was not a member of a group at the end of the previous |
|
| | |
| | (a) | “relevant turnover” means the company’s turnover, and |
|
| | (b) | “relevant balance sheet total” means the company’s balance sheet |
|
| | |
| | (1C) | If the company was a member of a group at the end of the previous financial |
|
| | |
| | (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 |
|
| | |
| | (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.’. |
|
| |
| | |
| Schedule 46, page 343, line 17, leave out ‘large’ and insert ‘qualifying’. |
|
| |
| | |
| 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 |
|
| | |
| | () | “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 |
|
| | |
| | () | “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 |
|
| | |
| | () | A person may be the senior accounting officer of more than one company.’. |
|
| |
| |
| |
| | |
| Schedule 46, page 343, line 20, leave out ‘or officer’. |
|
| |
| | |
| Schedule 46, page 343, leave out lines 29 to 32. |
|
| |
| | |
| Schedule 46, page 343, line 35, leave out from ‘“company”’ to end of line 36 and |
|
| insert ‘has the same meaning as in the Companies Acts (see section 1(1) of the Companies |
|
| Act 2006) but does not include a company that is an open-ended investment company |
|
| (within the meaning of section 468A of ICTA) or an investment trust (within the meaning |
|
| of section 842 of ICTA);’. |
|
|