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359

 

SUPPLEMENT TO THE VOTES AND PROCEEDINGS

 
 

Wednesday 8 July 2009

 

Report Stage Proceedings

 

Finance Bill, As Amended


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Lynne Jones

 

Withdrawn  1

 

Page  11,  line  32  [Clause  17],  at end insert—

 

‘(4)    

The Treasury shall, no later than the date of the Pre-Budget Report 2009, bring

 

forward plans to replace Air Passenger Duty with a per-plane tax.’.

 


 

Stewart Hosie

 

Mr Eric Illsey

 

Mr Jeremy Browne

 

Kelvin Hopkins

 

Negatived on division  4

 

Page  12,  line  15  [Clause  20],  leave out subsection (2).

 

Dr John Pugh

 

Mr Jeremy Browne

 

Not selected  39

 

Page  12,  line  16  [Clause  20],  leave out ‘for “15” substitute “22”’ and insert ‘after

 

“of”, insert “no more than”’.

 

Mr Eric Illsley

 

Kelvin Hopkins

 

Mr Parmjit Dhanda

 

Mr Edward O’Hara

 

David Taylor

 

John Cummings

 

Mr Anthony Wright

 

Mr John Grogan

 

Patrick Hall

 

Janet Anderson

 

Mr Clive Betts

 

Not called  22

 

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


 
 

Report Stage Proceedings: 8 July 2009                  

360

 

Finance Bill, continued

 
 

Mr Eric Illsley

 

Kelvin Hopkins

 

Mr Parmjit Dhanda

 

Mr Edward O’Hara

 

David Taylor

 

John Cummings

 

Mr Anthony Wright

 

Mr John Grogan

 

Patrick Hall

 

Janet Anderson

 

Mr Clive Betts

 

Not called  23

 

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

 

Stewart Hosie

 

Mr Jeremy Browne

 

Not called  5

 

Page  12,  line  20  [Clause  20],  leave out ‘27 April 2009’ and insert ‘1 April 2010’.

 

Mr Eric Illsley

 

Kelvin Hopkins

 

Mr Parmjit Dhanda

 

Mr Edward O’Hara

 

David Taylor

 

John Cummings

 

Mr Anthony Wright

 

Mr John Grogan

 

Patrick Hall

 

Janet Anderson

 

Mr Clive Betts

 

Not called  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

 

Withdrawn  31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 Chancellor of the Exchequer

 

Agreed to  41

 

Page  28,  line  16  [Clause  59],  after ‘made’, insert ‘by a tax authority’.

 



 
 

Report Stage Proceedings: 8 July 2009                  

361

 

Finance Bill, continued

 
 

Mr Chancellor of the Exchequer

 

Agreed to  42

 

Page  29,  line  6  [Clause  59],  after ‘made’, insert ‘by a tax authority’.

 


 

Alison Seabeck

 

Not selected  54

 

Page  43,  line  33  [Clause  81],  after ‘5’, insert ‘and also includes Community Land

 

Trusts as defined by Section 79 of the Housing and Regeneration Act 2008’.

 


 

Mr David Heath

 

Withdrawn  3

 

Page  46,  line  10  [Clause  91],  at end insert—

 

‘( )    

In particular, the Charter must include policies in relation to prosecution and

 

alternatives to prosecution, and the circumstances in which monies collected but

 

legally returnable to any person may be retained pending futher investigation.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  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 Chancellor of the Exchequer

 

Agreed to  43

 

Page  46,  line  23  [Clause  92],  leave out ‘large’ and insert ‘qualifying’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  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

 

Not called  14

 

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


 
 

Report Stage Proceedings: 8 July 2009                  

362

 

Finance Bill, continued

 
 

‘(7A)    

Repayment interest is not taxable.’.

 


 

Mr Chancellor of the Exchequer

 

Agreed to  44

 

Page  55,  line  1  [Clause  107],  leave out from beginning to ‘P’ in line 2.

 

Mr Chancellor of the Exchequer

 

Agreed to  45

 

Page  55,  line  4  [Clause  107],  leave out ‘whether before or after that date,’.

 

Mr Chancellor of the Exchequer

 

Agreed to  46

 

Page  55,  line  10  [Clause  107],  leave out ‘during’ and insert ‘between the date on

 

which P makes the request and the end of’.

 


 

Dr John Pugh

 

Mr Jeremy Browne

 

Not called  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

 

Not called  35

 

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

 


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Withdrawn  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—


 
 

Report Stage Proceedings: 8 July 2009                  

363

 

Finance Bill, continued

 
 

(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 “ITTOIA 2005”.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  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.’.

 


 

Mr Chancellor of the Exchequer

 

Agreed to  47

 

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

 

‘Profit: financing-cost ratio

 

5A  (1)  

In section 115 (profit: financing-cost ratio), after subsection (3) insert—

 

“(3A)    

The Commissioners for Her Majesty’s Revenue and Customs may

 

waive a charge in respect of an accounting period where they think

 

that—

 

(a)    

the company was in severe financial difficulties at a time in

 

the accounting period,

 

(b)    

the result of the sum specified in subsection (2) is less than

 

1.25 in respect of the accounting period because of

 

circumstances that arose unexpectedly, and


 
 

Report Stage Proceedings: 8 July 2009                  

364

 

Finance Bill, continued

 
 

(c)    

in those circumstances, the company could not reasonably

 

have taken action to avoid the result being less than 1.25.

 

(3B)    

The regulations may specify criteria to be applied by the

 

Commissioners in determining whether to waive a charge.”

 

      (2)  

The Commissioners may waive a charge in respect of accounting periods

 

ending before the day on which this Act is passed.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  15

 

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

 

‘Profit: financing-cost ratio

 

5A  (3)  

Section 115 (4) is amended as follows.

 

      (4)  

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

 

      (5)  

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

 

Not called  16

 

Page  290,  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.’.

 


 

Mr Chancellor of the Exchequer

 

Agreed to  48

 

Page  291,  line  28  [Schedule  35],  at end insert ‘(but subject to paragraph 16A).’.

 



 
 

Report Stage Proceedings: 8 July 2009                  

365

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  29

 

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

 


 

Mr Mark Hoban

 

Not called  30

 

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

 

‘(3)    

When an individual establishes a protected pension input amount in respect 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.’.

 


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  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

 

Not called  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.’.

 


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  27

 

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


 
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