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1

 

House of Commons

 
 

Notices of Amendments

 

given on

 

Wednesday 7 July 2010

 

Committee of the whole House


 

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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