|
| |
|
“certification period”, in a case where the certificate referred |
| |
to in sub-paragraph (1) has been varied under paragraph |
| |
45, means the period for which that certificate has effect as |
| |
| |
“tonne of carbon dioxide equivalent” has the meaning given |
| 5 |
in the Climate Change Act 2008.” |
| |
| |
| |
2 | Schedule 6 to FA 2000 is amended as follows. |
| |
3 (1) | Paragraph 40 (persons liable to account for levy) is amended as follows. |
| 10 |
(2) | In sub-paragraph (1), after “sub-paragraph (2)” insert “or (3)”. |
| |
(3) | After sub-paragraph (2) insert— |
| |
“(3) | In the case of levy charged on a taxable supply under paragraph |
| |
45B, the person liable to account for the levy is the operator of the |
| |
facility to which the supply was made.” |
| 15 |
4 | In paragraph 41(2A) (application of Part 7 where person liable to account |
| |
otherwise than by reference to accounting period), after “regulations under |
| |
sub-paragraph (1)(a)(ii) above” insert “or by virtue of paragraph 45B(8)”. |
| |
5 | In paragraph 42 (amount payable by way of levy), after sub-paragraph (1) |
| |
| 20 |
“(1A) | Sub-paragraph (1) is subject to paragraph 45B.” |
| |
6 | In paragraph 44(2) (definition of “reduced-rate supply” to have effect subject |
| |
to paragraph 45), for “paragraph 45” substitute “paragraphs 45 and 45B”. |
| |
7 | In paragraph 45A (deemed supplies), after sub-paragraph (2) insert— |
| |
“(3) | This paragraph does not apply where a supply is treated as not |
| 25 |
being a reduced-rate supply by virtue of paragraph 45B.” |
| |
8 (1) | Paragraph 91 (interpretation etc of Part 7 of the Schedule) is amended as |
| |
| |
(2) | In sub-paragraph (5) (modification of references to accounting periods in |
| |
case of levy due otherwise than by reference to such periods), after |
| 30 |
“regulations under paragraph 41(1)(a)(ii)” insert “or by virtue of paragraph |
| |
| |
9 | In paragraph 147 (interpretation), in the definition of “reduced-rate supply”, |
| |
for “paragraph 45” substitute “paragraphs 45 and 45B”. |
| |
|
| |
|
| |
|
| |
| |
Landfill tax: prescribed landfill site activities |
| |
| |
1 | Part 3 of FA 1996 (landfill tax) is amended as follows. |
| |
Prescribed landfill site activities to be treated as disposals |
| 5 |
2 | After section 65 insert— |
| |
“65A | Prescribed landfill site activities to be treated as disposals |
| |
(1) | An order may prescribe a landfill site activity for the purposes of this |
| |
| |
(2) | If a prescribed landfill site activity is carried out at a landfill site, the |
| 10 |
activity is to be treated— |
| |
(a) | as a disposal at the landfill site of the material involved in the |
| |
| |
(b) | as a disposal of that material as waste, and |
| |
(c) | as a disposal of that material made by way of landfill. |
| 15 |
(3) | Connected provision may be made by order. |
| |
(4) | Provision may be made under this section in such way as the |
| |
| |
(5) | An order under subsection (1) may prescribe a landfill site activity by |
| |
| 20 |
(6) | Those conditions may, in particular, relate to either or both of the |
| |
| |
(a) | whether the landfill site activity is carried out in a designated |
| |
area of a landfill site, and |
| |
(b) | whether there has been compliance with a requirement to |
| 25 |
give information relating to— |
| |
(i) | the landfill site activity, or |
| |
(ii) | the material involved in the landfill site activity, |
| |
| including information relating to whether the activity is |
| |
carried out in a designated area of a landfill site. |
| 30 |
(7) | An order under this section— |
| |
(a) | may amend, or otherwise modify, this Part or any other |
| |
enactment relating to landfill tax, but |
| |
(b) | may not alter any rate at which landfill tax is charged. |
| |
(8) | Subsections (5) to (7) do not limit the generality of subsection (4). |
| 35 |
| |
“connected provision” means provision which appears to the |
| |
Treasury to be necessary or expedient in connection with |
| |
provision made under subsection (1); |
| |
“designated area” means an area of a landfill site designated in |
| 40 |
| |
|
| |
|
| |
|
(a) | an order under this section, or |
| |
(b) | regulations under Part 1 of Schedule 5; |
| |
“landfill site activity” means any of the following descriptions |
| |
of activity, or an activity that falls within any of the following |
| |
| 5 |
(a) | using or otherwise dealing with material at a landfill |
| |
| |
(b) | storing or otherwise having material at a landfill site.” |
| |
3 | In section 71(7) (orders and regulations), after paragraph (c) insert— |
| |
“(ca) | an order under section 65A above which produces the result |
| 10 |
that a landfill site activity which would not otherwise be |
| |
prescribed for the purposes of section 65A is so prescribed; |
| |
(cb) | an order under section 65A above which amends this Part or |
| |
any enactment contained in an Act;”. |
| |
Material temporarily held |
| 15 |
4 | Omit section 62 (taxable disposals: regulations about material temporarily |
| |
held at a landfill site). |
| |
Material at landfill sites |
| |
5 | Part 1 of Schedule 5 (information) is amended as follows. |
| |
6 | For the heading before paragraph 1 substitute— |
| 20 |
| |
7 | After paragraph 1 insert— |
| |
“Information: material at landfill sites |
| |
1A (1) | Regulations may make provision about giving the Commissioners |
| |
information relating to material at a landfill site or a part of a |
| 25 |
| |
(2) | Regulations under this paragraph may require a person to give |
| |
| |
(3) | Regulations under this paragraph may— |
| |
(a) | require a person, or authorise an officer of Revenue and |
| 30 |
Customs to require a person, to designate a part of a |
| |
landfill site (an “information area”), and |
| |
(b) | require material, or prescribed descriptions of material, to |
| |
be deposited in an information area. |
| |
(4) | Regulations under this paragraph may make provision about |
| 35 |
information relating to what is done with material. |
| |
(5) | Sub-paragraphs (2) to (4) do not prejudice the generality of sub- |
| |
| |
8 | For the heading before paragraph 2 substitute— |
| |
|
| |
|
| |
|
“Records: registrable persons” |
| |
9 | After paragraph 2 insert— |
| |
“Records: material at landfill sites |
| |
2A (1) | Regulations may require a person to make records relating to |
| |
material at a landfill site or a part of a landfill site. |
| 5 |
(2) | Regulations under this paragraph may make provision about |
| |
records relating to what is done with material. |
| |
(3) | Sub-paragraphs (2) to (7) of paragraph 2 apply in relation to |
| |
regulations under this paragraph as they apply in relation to |
| |
regulations under paragraph 2. |
| 10 |
(4) | But, in the application of paragraph 2(3)(a) in relation to |
| |
regulations under this paragraph, the reference to registrable |
| |
persons has effect as a reference to persons.” |
| |
| |
10 | Omit section 43C (site restoration). |
| 15 |
11 | In Part 1 of Schedule 5 (information), after paragraph 1A (inserted by |
| |
| |
“Information: site restoration |
| |
1B (1) | Before commencing restoration of all or part of a landfill site, the |
| |
operator of the site must— |
| 20 |
(a) | notify the Commissioners in writing that the restoration is |
| |
| |
(b) | provide such other written information as the |
| |
Commissioners may require generally or in the particular |
| |
| 25 |
(2) | In this paragraph “restoration” means work, other than capping |
| |
waste, which is required by a relevant instrument to be carried out |
| |
to restore a landfill site to use on completion of waste disposal |
| |
| |
(3) | The following are relevant instruments— |
| 30 |
| |
(b) | a waste management licence, and |
| |
(c) | a permit authorising the disposal of waste on or in land.” |
| |
| |
12 | In section 49(b) (accounting for tax and time for payment), omit “as may be |
| 35 |
| |
| |
13 (1) | The repeal made by paragraph 10 comes into force on 1 September 2009. |
| |
|
| |
|
| |
|
(2) | The amendment made by paragraph 11 (information about site restoration) |
| |
has effect in relation to restoration of landfill sites commencing on or after 1 |
| |
| |
(3) | The repeal of section 62 made by paragraph 4, and the repeal in section 49 |
| |
| 5 |
(a) | do not affect any regulations made under the repealed provisions |
| |
before the passing of this Act, and |
| |
(b) | do not prevent the powers conferred by the repealed provisions from |
| |
being used after the passing of this Act to revoke any regulations |
| |
made under the powers before that time. |
| 10 |
| |
| |
Alternative finance investment bonds |
| |
| |
| |
| 15 |
| |
“alternative finance investment bond” means arrangements within |
| |
section 48A of FA 2005 (alternative finance investment bond: |
| |
| |
“bond assets”, “bond-holder”, “bond-issuer” and “capital” have the |
| 20 |
meaning given by that section; |
| |
“HMRC” means Her Majesty’s Revenue and Customs; |
| |
“prescribed” means prescribed in regulations made by HMRC; |
| |
“qualifying interest” means a major interest in land (within the |
| |
meaning given by section 117 of FA 2003) except that it does not |
| 25 |
include a lease if the lease is for— |
| |
(a) | a term of years of 21 years or less, or |
| |
(b) | in Scotland, a period of 21 years or less. |
| |
(2) | Except where the context otherwise requires, any expression which is used |
| |
in this Schedule and in Part 4 of FA 2003 has the meaning which it has in that |
| 30 |
| |
| |
Issue, transfer and redemption of rights under arrangements |
| |
Issue, transfer and redemption of rights under bond not be treated as chargeable transaction |
| |
2 | Section 48B(2) of FA 2005 (effect of bond for purposes of tax) applies for the |
| 35 |
purposes of stamp duty land tax as it applies for the purposes of income tax |
| |
| |
|
| |
|
| |
|
Relief not available where bond-holder acquires control of underlying asset |
| |
3 (1) | Paragraph 2 does not apply if control of the underlying asset is acquired |
| |
| |
| |
(b) | a group of connected bond-holders. |
| 5 |
(2) | A bond-holder (“BH”), or a group of connected bond-holders, acquires |
| |
control of the underlying asset if— |
| |
(a) | the rights of bond-holders under an alternative finance investment |
| |
bond include the right of management and control of the bond |
| |
| 10 |
(b) | BH, or the group, acquires sufficient rights to enable BH, or the |
| |
members of the group acting jointly, to exercise the right of |
| |
management and control of the bond assets to the exclusion of any |
| |
| |
4 (1) | But paragraph 3(1) does not apply (and, accordingly, section 48B(2) of FA |
| 15 |
2005 applies by virtue of paragraph 2) in either of the following cases. |
| |
(2) | The first case is where— |
| |
(a) | at the time that the rights were acquired BH (or all of the connected |
| |
bond-holders) did not know and had no reason to suspect that the |
| |
acquisition enabled the exercise of the right of management and |
| 20 |
control of the bond assets to the exclusion of other bond-holders, and |
| |
(b) | as soon as reasonably practicable after BH (or any of the bond- |
| |
holders) becomes aware that the acquisition enables that exercise, |
| |
BH transfers (or some or all of the bond-holders transfer) sufficient |
| |
rights for that exercise no longer to be possible. |
| 25 |
(3) | The second case is where BH— |
| |
(a) | underwrites a public offer of rights under the bond, and |
| |
(b) | does not exercise the right of management and control of the bond |
| |
| |
| 30 |
“connected” is to be read in accordance with section 839 of ICTA, and |
| |
“underwrite”, in relation to an offer of rights under a bond, means to |
| |
agree to make payments of capital under the bond in the event that |
| |
other persons do not make those payments. |
| |
| 35 |
Transactions relating to underlying assets consisting of land |
| |
| |
General conditions for operation of reliefs etc |
| |
5 (1) | This paragraph defines conditions A to G for the purposes of paragraphs 6 |
| |
| 40 |
| Paragraphs 20 and 22 set out circumstances in which the reliefs provided by |
| |
paragraphs 6 to 18 are not available even if conditions A to G are met. |
| |
|
| |
|
| |
|
(2) | Condition A is that one person (“P”) and another (“Q”) enter into |
| |
arrangements under which— |
| |
(a) | P transfers to Q a qualifying interest in land (“the first transaction”), |
| |
| |
(b) | P and Q agree that when the interest ceases to be held by Q as |
| 5 |
mentioned in sub-paragraph (3)(b), Q will transfer the interest to P. |
| |
| |
(a) | Q, as bond-issuer, enters into an alternative finance investment bond |
| |
(whether before or after entering into the arrangements mentioned in |
| |
| 10 |
(b) | the interest in land to which those arrangements relate is held by Q |
| |
| |
(4) | Condition C is that, for the purpose of generating income or gains for the |
| |
alternative finance investment bond— |
| |
(a) | Q and P enter into a leaseback agreement, or |
| 15 |
(b) | such other condition or conditions as may be specified in regulations |
| |
made by the Treasury is or are met. |
| |
(5) | For the purposes of condition C, Q and P enter into a leaseback agreement if |
| |
Q grants to P, out of the interest transferred to Q,— |
| |
(a) | a lease (if the interest transferred is freehold or, in Scotland, the |
| 20 |
interest of the owner), or |
| |
(b) | a sub-lease (if the interest transferred is leasehold or, in Scotland, the |
| |
tenant’s right over or interest in a property subject to a lease). |
| |
(6) | Condition D is that, before the end of the period of 120 days beginning with |
| |
the effective date of the first transaction, Q provides HMRC with the |
| 25 |
prescribed evidence that— |
| |
(a) | in England and Wales, a satisfactory legal charge has been entered in |
| |
the register of title kept under section 1 of the Land Registration Act |
| |
| |
(b) | in Scotland, a satisfactory standard security has been registered in |
| 30 |
the Land Register of Scotland, or |
| |
(c) | in Northern Ireland, a satisfactory charge has been entered in the |
| |
register of titles kept under section 10 of the Land Registration Act |
| |
| |
(7) | A charge or security is satisfactory for the purposes of condition D if it— |
| 35 |
(a) | is a first charge on, or a security ranking first granted over, the |
| |
interest transferred to Q, |
| |
(b) | is in favour of the Commissioners for Her Majesty’s Revenue and |
| |
| |
(c) | is for the amount mentioned in sub-paragraph (8). |
| 40 |
(8) | That amount is the total of— |
| |
(a) | the amount of stamp duty land tax which would (apart from |
| |
paragraph 6(2)) be chargeable on the first transaction if the |
| |
chargeable consideration for that transaction had been the market |
| |
value of the interest at that time, and |
| 45 |
(b) | any interest and any penalties which would for the time being be |
| |
payable on or in respect of that amount of tax, if the tax had been due |
| |
and payable (but not paid) in respect of the first transaction. |
| |
|
| |
|