1

House of Commons

Notices of Amendments

given on

Wednesday 7 July 2010

Committee of the whole House

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Finance Bill

Jon Trickett

Mr Dai Havard

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

Mr David Crausby

Lisa Nandy

Jon Cruddas

Mr Ronnie Campbell

Frank Dobson

Paul Murphy

Jim Dobbin

Mr Michael Meacher

1

Clause  3,  page  2,  line  12,  after ‘made’, insert ‘on or after a specified date’.

Jon Trickett

Mr Dai Havard

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

Mr David Crausby

Lisa Nandy

Jon Cruddas

Mr Ronnie Campbell

Frank Dobson

Paul Murphy

Jim Dobbin

Mr Michael Meacher

2

Clause  3,  page  2,  line  15,  after ‘imported’, insert ‘on or after a specified date’.

Notices of Amendments: 7 July 2010

2

Finance Bill, continued

Jon Trickett

Mr Dai Havard

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

Mr David Crausby

Lisa Nandy

Jon Cruddas

Mr Ronnie Campbell

Frank Dobson

Paul Murphy

Jim Dobbin

Mr Michael Meacher

3

Clause  3,  page  2,  line  17,  at end add—

‘(6)	In subsections (3) and (4) above “a specified date” means a date specified by the

Treasury by an order made by Statutory Instrument, which may not be made

until—

(a)	an impact assessment of the effect of this section and Schedule 2 has been

laid before the House of Commons; and

(b)	a draft of the order has been laid before, and approved by resolution of,

the House of Commons.’.

Jon Trickett

Mr Dai Havard

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

Mr David Crausby

Lisa Nandy

Jon Cruddas

Mr Ronnie Campbell

Frank Dobson

Paul Murphy

Jim Dobbin

Mr Michael Meacher

4

Schedule  2,  page  11,  line  14,  leave out ‘4 January 2011’ and insert ‘the date

specified pursuant to section 3 of this Act’.

John McDonnell

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

5

Schedule  1,  page  6,  line  16,  leave out ‘28%’ and insert ‘40%’.

John McDonnell

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

6

Schedule  1,  page  6,  line  16,  at end insert—

‘(3A)

If income tax is chargeable at the additional rate in respect of any part of the

income of an individual for a tax year, the rate of capital gains tax in respect of

gains accruing to the individual in the year is 50%.’.

Notices of Amendments: 7 July 2010

3

Finance Bill, continued

John McDonnell

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

7

Schedule  1,  page  6,  line  17,  after ‘If’, insert—

‘(a)	no income tax is chargeable at the additional rate in respect of any part of

the income of an individual for a tax year, but

(b)

’.

John McDonnell

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

8

Schedule  1,  page  6,  line  20,  leave out ‘28%’ and insert ‘40%’.

John McDonnell

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

9

Schedule  1,  page  6,  line  25,  leave out ‘28%’ and insert ‘40%’.

Revenue forecasts for tax rate changes

Mr John Redwood

To move the following Clause:—

‘(1)	When proposing future increases in rates of tax on income and capital the

Government shall bring forward a forecast of revenue following the change based

upon a dynamic model of the impact of the rate increase on taxpayer numbers and

behaviour.

(2)	These models will be based on analysis of past behavioural changes and adjusted

in the light of experience.’.

John McDonnell

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

10

Schedule  1,  page  9,  line  29,  at end insert ‘, provided that the Chancellor of the

Exchequer has laid before the House of Commons a report on the implications of aligning

rates of captital gains tax with rates of income tax.’.

Notices of Amendments: 7 July 2010

4

Finance Bill, continued

John McDonnell

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

11

Clause  1,  page  1,  line  6,  at end insert—

‘(2)	Subsection (1) shall not have effect unless the Chancellor of the Exchequer has

laid before the House of Commons a report on the extent of avoidance and

evasion of corporation tax and on the measures he proposes to take to ensure the

payment of tax which is due.’.

John McDonnell

Kelvin Hopkins

Jeremy Corbyn

Mrs Linda Riordan

Katy Clark

Austin Mitchell

12

Clause  2,  page  2,  line  4,  at end insert—

‘(2)	Schedule 1 shall not have effect unless the Chancellor of the Exchequer has laid

before the House of Commons a report on the extent of avoidance and evasion of

capital gains tax and on the measures he proposes to take to ensure the payment

of tax which is due.’.

Stewart Hosie

Jonathan Edwards

Angus Robertson

Mr Elfyn Llwyd

Caroline Lucas

Mr Mike Weir

Pete Wishart

Hywel Williams

Dr Eilidh Whiteford

Mr Angus MacNeil

13

Clause  3,  page  2,  line  7,  leave out subsection (1).

Stewart Hosie

Jonathan Edwards

Angus Robertson

Mr Elfyn Llwyd

Caroline Lucas

Mr Mike Weir

Pete Wishart

Hywel Williams

Dr Eilidh Whiteford

Mr Angus MacNeil

14

Clause  3,  page  2,  line  9,  leave out subsection (2).

Notices of Amendments: 7 July 2010

5

Finance Bill, continued

Stewart Hosie

Jonathan Edwards

Angus Robertson

Mr Elfyn Llwyd

Caroline Lucas

Mr Mike Weir

Pete Wishart

Hywel Williams

Dr Eilidh Whiteford

Mr Angus MacNeil

15

Clause  4,  page  2,  line  26,  at end add ‘, subject to a report having been laid by the

Secretary of State containing an assessment of the consequences of the changes in

subsection (1) on consumers and the insurance industry.’.

Stewart Hosie

Jonathan Edwards

Angus Robertson

Mr Elfyn Llwyd

Caroline Lucas

Mr Mike Weir

Pete Wishart

Hywel Williams

Dr Eilidh Whiteford

Mr Angus MacNeil

16

Clause  6,  page  3,  line  12,  leave out ‘22 June 2010’ and insert ‘a date set by the

Secretary of State by regulation.’.

Stewart Hosie

Jonathan Edwards

Angus Robertson

Mr Elfyn Llwyd

Caroline Lucas

Mr Mike Weir

Pete Wishart

Hywel Williams

Dr Eilidh Whiteford

Mr Angus MacNeil

17

Schedule  3,  page  19,  line  38,  leave out ‘22 June 2010’ and insert ‘a date set by the

Secretary of State by regulation.’.

Mr Christopher Chope

18

Clause  4,  page  2,  line  23,  leave out ‘“6 per cent”’ and insert ‘“5 per cent in the case

of personal health insurance, and 6 per cent in any other case”’.

Mr Christopher Chope

19

Clause  4,  page  2,  line  23,  leave out ‘“6 per cent”’ and insert ‘“5 per cent in the case

of motor insurance, and 6 per cent in any other case”’.

Chris Leslie

20

Clause  1,  page  1,  line  6,  at end add—

‘(2)	Section 3 of the Finance Act 2010 (small profits rates and fractions for financial

year 2010) is amended as follows.

Notices of Amendments: 7 July 2010

6

Finance Bill, continued

(3)	After subsection (3) insert a new subsection—

“(3A)

For the financial year 2011 the small profits rate is 20 per cent. on profits

of companies other than ring fence profits.”.’.

Chris Leslie

Cathy Jamieson

21

Clause  1,  page  1,  line  6,  at end add—

‘(2)	The main rate of corporation tax for financial year 2011 will remain at 28 per cent.

on the profits of banking institutions as defined by section 2 of the Banking Act

2009.’.

Chris Leslie

22

Clause  3,  page  2,  line  8,  at end insert—

‘(2)	Subsection (1) shall apply until 4 January 2012.’.

Chris Leslie

23

Clause  3,  page  2,  line  17,  at end add—

‘(6)	The rate of value added tax shall remain at 17.5 per cent. on children’s prams,

cots, toys, nappies, children’s sanitary products and teething-related goods.’.

Chris Leslie

24

Clause  4,  page  2,  line  34,  at end add—

‘(5)	The Secretary of State must report by the end of 2010 his assessment of the

benefits for taxpayers of advertising the Insurance Premium Tax rates in a more

prominent manner on all relevant insurance policy documentation.’.

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Revised 8 July 2010