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Report Stage Proceedings: 8 July 2009                  

366

 

Finance Bill, continued

 
 

‘(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  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 Chancellor of the Exchequer

 

Agreed to  49

 

Page  302,  line  41  [Schedule  35],  at end insert—

 

‘Increased special annual allowance

 

16A(1)  

This paragraph has effect where the mean of the infrequent money purchase

 

contributions amount for the tax years 2006-07, 2007-08 and 2008-09 (“the

 

relevant mean”) exceeds £20,000.

 

      (2)  

Where the relevant mean is less than £30,000, this Schedule has effect as if the

 

references in paragraph 1(4) and (5) to £20,000 were instead to the relevant

 

mean.

 

      (3)  

Where the relevant mean is £30,000 or more, this Schedule has effect as if

 

those references were instead to £30,000.

 

      (4)  

The “infrequent money purchase contributions amount” for a tax year is the

 

aggregate of any relevant contributions paid in the tax year—

 

(a)    

under money purchase arrangements, other than cash balance

 

arrangements, under registered pension schemes, and

 

(b)    

less frequently than on a quarterly basis;

 

            

(and so is nil if no such contributions were so paid).

 

      (5)  

But if the infrequent money purchase contributions amount for a tax year

 

would otherwise be greater than the annual allowance for the tax year, it is to

 

be taken to be the annual allowance for the tax year.

 

      (6)  

“Relevant contributions” means contributions which are—

 

(a)    

relievable pension contributions by or on behalf of the individual, or

 

(b)    

contributions paid by an employer of the individual in respect of the

 

individual.’.

 


 

Mr Chancellor of the Exchequer

 

Agreed to  50

 

Page  303,  line  18  [Schedule  35],  leave out ‘are members of’ and insert—


 
 

Report Stage Proceedings: 8 July 2009                  

367

 

Finance Bill, continued

 
 

‘(a)    

are or have been members of currently-relieved non-UK pension

 

schemes, or

 

(b)    

have been members of overseas pension schemes that were not’.

 


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  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—

 

      (a)  

compliance by companies with paragraph 1 (1), and

 

      (b)  

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.’.

 


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  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

 

Agreed to  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

 

Not called  9

 

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

 



 
 

Report Stage Proceedings: 8 July 2009                  

368

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  10

 

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

 


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  11

 

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

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  12

 

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

 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  13

 

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

 


 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Not called  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

 

Not called  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.’.

 



 
 

Report Stage Proceedings: 8 July 2009                  

369

 

Finance Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Mr Greg Hands

 

Agreed to  21

 

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

 


 

Mr Chancellor of the Exchequer

 

Agreed to  51

 

Page  425,  line  1  [Schedule  56],  leave out from beginning to ‘P’ in line 2.

 

Mr Chancellor of the Exchequer

 

Agreed to  52

 

Page  425,  line  4  [Schedule  56],  leave out ‘whether before or after that date,’.

 

Mr Chancellor of the Exchequer

 

Agreed to  53

 

Page  425,  line  6  [Schedule  56],  leave out ‘during’ and insert ‘between the date on

 

which P makes the request and the end of’.

 

Bill read the third time, and passed.

 


 
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