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1067

 

House of Commons

 
 

Notices of Amendments

 

given on

 

Thursday 2 July 2009

 

For other Amendment(s) see the following page(s) of Supplement to Votes:

 

993, 1003, 1053 and 1065

 

Consideration of Bill


 

Finance Bill, As Amended

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

6

 

Page  46,  line  20  [Clause  91],  at end insert—

 

‘(3)    

The Charter prepared under section 16A (1) of CRCA 2005 shall not come into

 

effect until it has been approved by a resolution of the House of Commons.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

7

 

Page  366,  line  43  [Schedule  48],  leave out from ‘tax’ to end of line 1 on page 367.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

8

 

Page  368,  line  14  [Schedule  48],  leave out ‘Paragraphs (c) and (d) of sub-paragraph

 

2A do’ and insert ‘Paragraph (c) of sub-paragraph 2A does’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

9

 

Page  382,  line  41  [Schedule  51],  after ‘a’, insert ‘deliberate’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

10

 

Page  384,  line  11  [Schedule  51],  after ‘a’, insert ‘deliberate’.


 
 

Notices of Amendments: 2 July 2009                     

1068

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

11

 

Page  392  [Schedule  52],  leave out line 7.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

12

 

Page  392  [Schedule  52],  leave out lines 10 to 16.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

13

 

Page  392,  line  46  [Schedule  52],  leave out sub-paragraph (7).

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

14

 

Page  51,  line  23  [Clause  101],  at end insert—

 

‘(7A)    

Repayment interest is not taxable.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

15

 

Page  290,  line  24  [Schedule  34],  at end insert—

 

‘Profit: financing-cost ratio

 

5A  (1)  

Section 115 (4) is amended as follows.

 

      (2)  

In subsection 115 (4) (a) after “costs giving rise to”, insert “credits or”.

 

      (3)  

In subsection 115 (4) at end insert “but exclude—

 

(f)    

financing costs falling within (a) to (e) above which are exceptional

 

due to their size or incidence.”.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

16

 

Page  291,  line  29  [Schedule  34],  at end insert—

 

‘Termination by notice: Commissioners

 

6A  (1)  

Section 129 is amended as follows.

 

      (2)  

In section 129 (2) (c) at end insert “but a breach of the conditon in section 107

 

(8) where the company is in financial difficulties shall not be treated as

 

serious”.

 

      (3)  

The amendment made by sub-paragraph (2) is to be treated as always having

 

had effect.’.


 
 

Notices of Amendments: 2 July 2009                     

1069

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

17

 

Page  289,  line  23  [Schedule  34],  at end insert—

 

‘Stock dividends

 

3A  (1)  

Section 107 (conditions for tax-exempt business) is amended as follows.

 

      (2)  

In subsection (8) omit “(a) by way of dividend, and (b)”.

 

      (3)  

After subsection (8) insert—

 

“(8A)    

In this Part and for the purposes of section 973 of ITA 2007, a

 

distribution of the profits of the property rental business shall

 

include—

 

(a)    

an amount distributed by way of dividend, and

 

(b)    

an issue of shares to which section 249 (1) (a) of ICTA applies

 

    

and in case a falling within (b). the amount of the distribution shall be

 

the cash equivalent of share capital determined in accordance with

 

section 412 of ITTOIA 2005, but otherwise Chapter 5 of Part 4 of

 

ITTOIA 2005 shall not apply.”.

 

3B  (1)  

Paragraph 6 of Schedule 17 is amended as follows.

 

      (2)  

In paragraph 6 (4), delete “by way of dividend and (c)”.

 

      (3)  

After paragraph 6 (4) insert—

 

“(4A)    

In the application of section 107 (8A) for ‘profits’ substitute ‘UK

 

profits’ as defined in paragraph 6 (4).”.

 

      (4)  

Section 142 (1) of TCGA 1992 is amended by inserting “or section 107(8A)

 

(b) 2006” after the reference to “ITTOISA 2005”.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

18

 

Page  289,  line  23  [Schedule  34],  at end insert—

 

‘Conditions for tax-exempt business

 

3A  (1)  

Section 107 (conditions for tax-exempt business) is amended as follows—

 

      (2)  

In subsection (8)(b) after “before”, insert “the third anniversary of ”.

 

      (3)  

The amendment made by sub-paragraph (2) has effect for distributions in

 

respect of accounting periods beginning on or after 1 January 2008 and ending

 

on or before 31 March 2010.

 

3B  (1)  

Schedule 17 is amended as follows.

 

      (2)  

In paragraph 6 (4) after “before”, insert “the third anniversary of”.

 

      (3)  

The amendment made by sub-paragraph (2) has effect for distributions in

 

respect of accounting periods beginning on or after 1 January 2008 and ending

 

on or before 31 March 2010.’.


 
 

Notices of Amendments: 2 July 2009                     

1070

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

19

 

Page  410,  line  34  [Schedule  54],  leave out from first ‘is’ to end of line 35 and insert

 

‘the end of the accounting period in which the loss is incurred’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

20

 

Page  419,  line  21  [Schedule  55],  at end insert—

 

  ‘(3A)  

The aggregate penalties against partners of a partnership under this paragraph

 

may not exceed the amount that could have been assessed on one partner.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

21

 

Page  423,  line  14  [Schedule  56],  leave out ‘by’.

 

Office of Tax Simplification

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

NC3

 

To move the following Clause:—

 

‘(1)    

The Treasury shall establish an Office of Tax Simplification.

 

(2)    

Its mandate shall be to—

 

(a)    

review tax law

 

(b)    

make proposals on tax law reform and simplification.

 

(3)    

Regulations shall specify the governance arrangements of the Office of Tax

 

Simplification.

 

(4)    

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

 

before, and approved by a resolution of, the House of Commons.’.

 

Holiday accommodation report

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

NC4

 

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.


 
 

Notices of Amendments: 2 July 2009                     

1071

 

Finance Bill, continued

 
 

(2)    

Any such report shall address the impact on the UK tourism industry.

 

(3)    

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.’.

 

Pre-commencement notification

 

Stewart Hosie

 

NC5

 

To move the following Clause:—

 

‘(1)    

Part 7 of FA (disclosure of tax avoidance schemes) is amended as follows.

 

(2)    

In section 308 (duties of promoter) after subsection (5) insert—

 

“(5A)    

A person who is a promoter in relation to a notifiable proposal may seek

 

pre-commencement approval from HMRC as to whether the proposal is

 

in accordance with current legislation.

 

(5B)    

HMRC shall respond within a reasonable period of time to any request

 

for pre-commencement approval under subsection (5A).’.’.

 

Mr Eric Illsley

 

22

 

Page  12,  line  16  [Clause  20],  leave out ‘22’ and insert ‘16’.

 

Mr Eric Illsley

 

23

 

Page  12,  line  16  [Clause  20],  leave out ‘22’ and insert ‘17’.

 

Mr Eric Illsley

 

24

 

Page  12,  line  20  [Clause  20],  leave out ‘27 April 2009’ and insert ‘1 April 2011’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

25

 

Page  296,  line  25  [Schedule  35],  at end insert—

 

‘(3A)    

Where contributions are not paid in accordance with subsection (3) (c) above, the

 

protected pension input amount is the lower of £50,000 or the average of

 

contributions made over the last three years.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

26

 

Page  297,  line  23  [Schedule  35],  at end insert—

 

‘(3A)    

Where contributions are not paid in accordance with subsection (3) (c) above, the

 

protected pension input amount is the lower of £50,000 or the average of

 

contributions made over the last three years.’.


 
 

Notices of Amendments: 2 July 2009                     

1072

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

27

 

Page  298,  line  25  [Schedule  35],  at end insert—

 

‘(3A)    

Where contributions are not paid in accordance with subsection (3) (c) above, the

 

protected pension input amount is the lower of £50,000 or the average of

 

contributions made over the last three years.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

28

 

Page  299,  line  15  [Schedule  35],  at end insert—

 

‘(2A)    

Where contributions are not paid in accordance with subsection (2) (b) above, the

 

protected pension input amount is the lower of £50,000 or the average of

 

contributions made over the last three years.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

29

 

Page  293,  line  4  [Schedule  35],  leave out subsection (2).

 

Mr Mark Hoban

 

30

 

Page  295,  line  46  [Schedule  35],  at end insert—

 

‘(3)    

When an individual establishes a protected pension input amount in repsect of

 

any of the schemes listed in paragraphs 8 to 13 below and their arrangements

 

change, the protected input amount applies to the new arrangement.’.

 

Competitivenes of the tax system

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

NC6

 

To move the following Clause:—

 

‘Prior to the first reading of a Finance Bill, the Treasury will lay before

 

Parliament a report on the impact on the competitiveness of UK economy of—

 

(a)    

the measures set out in that Finance Bill,

 

(b)    

the rates of—

 

(i)    

corporation tax,

 

(ii)    

income tax,

 

(iii)    

national insurance,

 

(iv)    

capital gains tax,

 

(v)    

excise duties, and

 

(vi)    

vehicle excise duties,

 

(c)    

the complexity of the tax system, and

 

(d)    

the relationship between the HMRC and the taxpayer.’.


 
 

Notices of Amendments: 2 July 2009                     

1073

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

31

 

Page  15,  line  40  [Clause  25],  leave out from ‘unless’ to end of line 9 on page 16

 

and insert ‘they have been made in accordance with section 257 of the Banking Act 2009’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

32

 

Page  46,  line  26  [Clause  92],  at end insert—

 

‘(3)    

That Schedule will cease to have effect on the fourth anniversary of the day on

 

which this Act is passed.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

33

 

Page  353,  line  21  [Schedule  46],  at end insert—

 

‘Annual report by Commissioners

 

2A         

The Commissioners must, at least once a year, make a report on—

 

      (1)  

compliance by companies with paragraph 1 (1), and

 

      (2)  

the amount of additional tax collected as a consequence.

 

2B         

The first report should be made not later than 18 months after the date on which

 

this Act is passed.’.

 

Dr John Pugh

 

Mr Jeremy Browne

 

34

 

Page  202,  line  19  [Schedule  17],  at end insert ‘or part of a transaction of a value

 

exceeding £100 million’.

 

Dr John Pugh

 

Mr Jeremy Browne

 

35

 

Page  203  [Schedule  17],  leave out line 10.

 

Pension death benefits in higher education

 

Mr Frank Field

 

NC7

 

To move the following Clause:—

 

‘(1)    

Section 15 of FA 2004 (meaning of “dependant”) is amended as follows.

 

(2)    

In subsection (2)(a) at end insert—

 

“(aa)    

has reached that age and is studying full-time for a higher

 

education qualification in medicine, veterinary science or

 

architecture or such other vocational courses as the Treasury

 

may prescribe by regulations, or”’.


 
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