Finance Bill

House of Commons

Session 2008 - 09
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Other Bills before Parliament

Finance Bill

Finance Bill
Schedule 48 — Extension of information and inspection powers
371

“registered pension scheme” means a pension scheme that is
or has been a registered pension scheme within the
meaning of Part 4 of FA 2004 or in relation to which an
application for registration under that Part of that Act has
been made;
5
“responsible person”, in relation to an employer-financed
retirement benefits scheme, has the same meaning as in
Chapter 2 of Part 6 of ITEPA 2003 (see section 399A of that
Act);
“scheme administrator”, in relation to a pension scheme, has
10
the same meaning as in Part 4 of FA 2004 (see section 270
of that Act).”
12
In paragraph 35 (special cases: groups of undertakings), in sub-paragraph
(4A)(c) (inserted by Schedule 47)—
(a)
for “paragraph 21” substitute “paragraphs 21 and 21A”, and
15
(b)
for “applies” substitute “apply”.
13
In paragraph 37 (special cases: partnerships), after sub-paragraph (2)
insert—
   “(2A)
Where, in respect of a transaction entered into as purchaser by or
on behalf of the members of the partnership, any of the partners
20
has—
(a)
delivered a land transaction return under Part 4 of FA 2003
(stamp duty land tax), or
(b)
made a claim under that Part of that Act,

paragraph 21A (restrictions where taxpayer has delivered land
25
transaction return) has effect as if that return had been delivered,
or that claim had been made, by each of the partners.”
14
After paragraph 61 insert—
“Involved third parties
61A   (1)
In this Schedule, “involved third party” means a person described
30
in the first column of the Table below.
      (2)
In this Schedule, in relation to an involved third party, “relevant
information”, “relevant document” and “relevant tax” have the
meaning given in the corresponding entries in that Table.

Involved third party
Relevant information
Relevant tax

35

and relevant

documents

1.
A body approved by an
Information and
Income tax

officer of Revenue and
documents relating

Customs for the purpose of
to the donations

40

paying donations within the

meaning of Part 12 of ITEPA

2003 (donations to charity:

payroll giving) (see section

714 of that Act)

45

Finance Bill
Schedule 48 — Extension of information and inspection powers
372

Involved third party
Relevant information
Relevant tax

and relevant

documents

2.
A plan manager (see section
Information and
Income tax

696 of ITTOIA 2005
documents relating

5

(managers of individual
to the plan,

investment plans))
including

investments which

are or have been

held under the plan

10

3.
An account provider in
Information and
Income tax

relation to a child trust fund
documents relating

(as defined in section 3 of
to the fund,

the Child Trust Funds Act
including

2004)
investments which

15

are or have been

held under the fund

4.
A person who is or has been
Information and
Income tax

registered as a managing
documents relating
Capital gains tax

agent at Lloyd’s in relation
to, and to the
Corporation tax

20

to a syndicate of
activities of, the

underwriting members of
syndicate

Lloyd’s

5.
A person involved (in any
Information and
Insurance

capacity) in an insurance
documents relating
premium tax

25

business (as defined for the
to contracts of

purposes of Part 3 of FA
insurance entered

1994)
into in the course of

the business

6.
A person who makes
Information and
Insurance

30

arrangements for persons to
documents relating
premium tax

enter into contracts of
to the contracts

insurance

7.
A person who—
Information and
Insurance

(a)
is concerned in a
documents relating
premium tax

35

business that is not
to the contracts

an insurance

business (as

defined for the

purposes of Part 3

40

of FA 1994), and

(b)
has been involved

in the entry into a

contract of

insurance

45

providing cover

for any matter

associated with

that business

8.
A person who, in relation to
Information and
Stamp duty

50

a charge to stamp duty
documents relating
reserve tax

reserve tax on an
to the agreement,

agreement, transfer, issue,
transfer, issue,

appropriation or surrender,
appropriation or

is an accountable person (as
surrender

55

defined in regulation 2 of

the Stamp Duty Reserve Tax

Regulations S.I. 1986/1711

(as amended from time to

time))

60

Finance Bill
Schedule 49 — Powers to obtain contact details for debtors
373

Involved third party
Relevant information
Relevant tax

and relevant

documents

9.
A responsible person in
Information and
Petroleum

relation to an oil field (as
documents relating
revenue tax

5

defined for the purposes of
to the oil field

Part 1 of OTA 1975)

10.
A person involved (in any
Information and
Aggregates levy

capacity) in subjecting
documents relating

aggregate to exploitation in
to matters in which

10

the United Kingdom (as
the person is or has

defined for the purposes of
been involved

Part 2 of FA 2001) or in

connected activities

11.
A person involved (in any
Information and
Climate change

15

capacity) in making or
documents relating
levy

receiving taxable
to matters in which

commodities (as defined for
the person is or has

the purposes of Schedule 6
been involved

to FA 2000) or in connected

20

activities

12.
A person involved (in any
Information and
Landfill tax”.

capacity) with any landfill
documents relating

disposal (as defined for the
to the disposal

purposes of Part 3 of FA

25

1996)

15    (1)
Paragraph 62 (meaning of “statutory records”) is amended as follows.
      (2)
In sub-paragraph (1), for paragraph (b) substitute—
“(b)
any other enactment relating to a tax,”.
      (3)
In sub-paragraph (2)(b), for “VATA 1994 or any other enactment relating to
30
value added tax” substitute “any other enactment relating to a tax”.
Schedule 49
Section 96

Powers to obtain contact details for debtors
Requirement for contact details for debtor
1     (1)
This Schedule applies where—
35
(a)
a sum is payable by a person (“the debtor”) to the Commissioners
under or by virtue of an enactment or under a contract settlement,
(b)
an officer of Revenue and Customs reasonably requires contact
details for the debtor for the purpose of collecting that sum,
(c)
the officer has reasonable grounds to believe that a person (“the third
40
party”) has any such details, and
(d)
the condition in sub-paragraph (2) is met.
      (2)
That condition is that—
(a)
the third party is a company, a local authority or a local authority
association, or
45
(b)
the officer has reasonable grounds to believe that the third party
obtained the details in the course of carrying on a business.

Finance Bill
Schedule 49 — Powers to obtain contact details for debtors
374

      (3)
This Schedule does not apply if—
(a)
the third party is a charity and obtained the details in the course of
providing services free of charge, or
(b)
the third party is not a charity but obtained the details in the course
of providing services on behalf of a charity that are free of charge to
5
the recipient of the service.
Power to obtain details
2     (1)
An officer of Revenue and Customs may by notice in writing require the
third party to provide the details.
      (2)
The notice must name the debtor.
10
Complying with notices
3
If a notice is given to the third party under this Schedule, the third party
must provide the details—
(a)
within such period, and
(b)
at such time, by such means and in such form (if any),
15

as is reasonably specified or described in the notice.
Right to appeal
4     (1)
The third party may appeal against the notice or any requirement in the
notice on the ground that it would be unduly onerous to comply with the
notice or requirement.
20
      (2)
Paragraph 32 of Schedule 36 to FA 2008 (procedure on appeal to tribunal)
applies to an appeal under this paragraph as it applies to an appeal relating
to a notice under that Schedule.
Penalty
5     (1)
This paragraph applies if the third party fails to comply with the notice.
25
      (2)
The third party is liable to a penalty of £300.
      (3)
Paragraphs 44 to 49 and 52 of Schedule 36 to FA 2008 (assessment and
enforcement of penalties etc) apply in relation to a penalty under this
paragraph as they apply in relation to a penalty under paragraph 39(1)(a) of
that Schedule (and references in those provisions to an information notice
30
include a notice under this Schedule).
Power to change amount of penalty
6     (1)
If it appears to the Treasury that there has been a change in the value of
money since the last relevant date, they may by regulations substitute for the
sum for the time being specified in paragraph 5 such other sum as appears
35
to them to be justified by the change.
      (2)
In sub-paragraph (1), “relevant date” means—
(a)
the date on which this Act is passed, and
(b)
each date on which the power conferred by that sub-paragraph has
been exercised.
40

Finance Bill
Schedule 50 — Record-keeping
375

      (3)
Regulations under this paragraph do not apply to any failure which began
before the date on which they come into force.
      (4)
Regulations made by the Treasury under this paragraph are to be made by
statutory instrument.
      (5)
A statutory instrument containing regulations under this paragraph is
5
subject to annulment in pursuance of a resolution of the House of Commons.
Application of provisions of TMA 1970
7
Subject to the provisions of this Schedule, the following provisions of TMA
1970 apply for the purposes of this Schedule as they apply for the purposes
of the Taxes Acts—
10
(a)
section 108 (responsibility of company officers),
(b)
section 114 (want of form), and
(c)
section 115 (delivery and service of documents).
General interpretation
8
In this Schedule—
15
“business” includes—
(a)
a profession, and
(b)
a property business;
“charity” means a company, body of persons or trust established for
charitable purposes only;
20
“the Commissioners” means the Commissioners for Her Majesty’s
Revenue and Customs;
“contact details”, in relation to a person, means the person’s address
and any other information about how the person may be contacted;
“contract settlement” means an agreement made in connection with
25
any person’s liability to make a payment to the Commissioners
under or by virtue of an enactment;
“enactment” includes subordinate legislation (within the meaning of
the Interpretation Act 1978);
“local authority” has the meaning given in section 999 of ITA 2007;
30
“local authority association” has the meaning given in section 1000 of
that Act;
“property business” has the same meaning as in ITTOIA 2005 (see
section 263(6) of that Act).
Schedule 50
35
Section 97

Record-keeping
Insurance premium tax
1     (1)
Paragraph 1 of Schedule 7 to FA 1994 (insurance premium tax: records) is
amended as follows.
      (2)
In sub-paragraph (3)—
40

Finance Bill
Schedule 50 — Record-keeping
376

(a)
after “may” insert “—
(a)
”, and
(b)
insert at the end—
“(b)
authorise the Commissioners to direct that any
such records need only be preserved for a shorter
5
period than that specified in the regulations, and
(c)
authorise a direction to be made so as to apply
generally or in such cases as the Commissioners
may stipulate.”
      (3)
For sub-paragraphs (4) to (6) substitute—
10
    “(4)
A duty under the regulations to preserve records may be
discharged—
(a)
by preserving them in any form and by any means, or
(b)
by preserving the information contained in them in any
form and by any means,
15

subject to any conditions or exceptions specified in writing by the
Commissioners.”
2
In consequence of the amendment made by paragraph 1(3), in the Criminal
Procedure (Consequential Provisions) (Scotland) Act 1995, in Schedule 4,
omit paragraph 89(4)(a).
20
Stamp duty land tax
3
Part 4 of FA 2003 (stamp duty land tax) is amended as follows.
4
Schedule 10 (stamp duty land tax: returns, enquiries, assessments and
appeals) is amended in accordance with paragraphs 5 to 7.
5     (1)
Paragraph 9 (duty to keep and preserve records) is amended as follows.
25
      (2)
In sub-paragraph (2), for “for six years after the effective date of the
transaction and until any later” substitute “until the end of the later of the
relevant day and the”.
      (3)
After that sub-paragraph insert—
   “(2A)
“The relevant day” means—
30
(a)
the sixth anniversary of the effective date of the
transaction, or
(b)
such earlier day as may be specified in writing by the
Commissioners for Her Majesty’s Revenue and Customs
(and different days may be specified for different cases).”
35
      (4)
After sub-paragraph (3) insert—
    “(4)
The Commissioners for Her Majesty’s Revenue and Customs may
by regulations—
(a)
provide that the records required to be kept and preserved
under this paragraph include, or do not include, records
40
specified in the regulations, and
(b)
provide that those records include supporting documents
so specified.

Finance Bill
Schedule 50 — Record-keeping
377

      (5)
Regulations under this paragraph may make provision by
reference to things specified in a notice published by the
Commissioners for Her Majesty’s Revenue and Customs in
accordance with the regulations (and not withdrawn by a
subsequent notice).
5
      (6)
“Supporting documents” includes accounts, books, deeds,
contracts, vouchers and receipts.”
6
For paragraph 10 (preservation of information instead of original records)
substitute—
“10
The duty under paragraph 9 to preserve records may be
10
satisfied—
(a)
by preserving them in any form and by any means, or
(b)
by preserving the information contained in them in any
form and by any means,

subject to any conditions or exceptions specified in writing by the
15
Commissioners for Her Majesty’s Revenue and Customs.”
7
Accordingly, in the heading before paragraph 10, for “instead of original
records” substitute “etc”.
8
Schedule 11 (record-keeping where transaction is not notifiable) is amended
in accordance with paragraphs 9 to 11.
20
9     (1)
Paragraph 4 (duty to keep and preserve records) is amended as follows.
      (2)
In sub-paragraph (2), for “for six years after the effective date of the
transaction” substitute “until the end of—
(a)
the sixth anniversary of the effective date of the
transaction, or
25
(b)
such earlier day as may be specified in writing by the
Commissioners for Her Majesty’s Revenue and Customs
(and different days may be specified for different cases).”
      (3)
After sub-paragraph (3) insert—
    “(4)
The Commissioners for Her Majesty’s Revenue and Customs may
30
by regulations—
(a)
provide that the records required to be kept and preserved
under this paragraph include, or do not include, records
specified in the regulations, and
(b)
provide that those records include supporting documents
35
so specified.
      (5)
Regulations under this paragraph may make provision by
reference to things specified in a notice published by the
Commissioners for Her Majesty’s Revenue and Customs in
accordance with the regulations (and not withdrawn by a
40
subsequent notice).
      (6)
“Supporting documents” includes accounts, books, deeds,
contracts, vouchers and receipts.”
10
For paragraph 5 (preservation of information instead of original records)