Finance (No.2) Bill

House of Commons

Session 2010 - 11
Internet Publications
Other Bills before Parliament

Finance (No.2) Bill

Finance (No.2) Bill
Part 3 — Administration
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Landfill tax
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Landfill tax: criteria for determining material to be subject to lower rate
(1)
In section 42 of FA 1996 (amount of landfill tax), for subsection (4) substitute—
“(4)
The Treasury must—
(a)
set criteria to be considered in determining from time to time
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what material is to be listed,
(b)
keep those criteria under review, and
(c)
revise them whenever they consider they should be revised.
(5)
The Commissioners must publish the criteria (and any revised criteria)
set by the Treasury.
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(6)
In determining from time to time what material is to be listed, the
Treasury must have regard to—
(a)
the criteria (or revised criteria) published under subsection (5),
and
(b)
any other factors they consider relevant.”
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(2)
The amendment made by this section has effect in relation to disposals made,
or treated as made, on or after 1 April 2011.
Part 3
Administration
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Interest: corporation tax and petroleum revenue tax
20
(1)
Schedule 9 contains amendments of FA 2009 relating to late payment interest
and repayment interest on amounts of corporation tax and petroleum revenue
tax.
(2)
That Schedule comes into force on such day as the Treasury may by order
appoint.
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(3)
An order under subsection (2)—
(a)
may commence a provision generally or only for specified purposes,
and
(b)
may appoint different days for different provisions or for different
purposes.
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(4)
The Treasury may by order make any incidental, supplemental, consequential,
transitional, transitory or saving provision which appears appropriate in
consequence of, or otherwise in connection with, that Schedule.
(5)
An order under subsection (4) may—
(a)
make different provision for different purposes, and
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(b)
make provision amending, repealing or revoking any Act or
subordinate legislation whenever passed or made (including this Act
and any Act amended by it).
(6)
An order under this section is to be made by statutory instrument.

Finance (No.2) Bill
Part 3 — Administration
19

(7)
A statutory instrument containing an order under subsection (4) which
includes provision amending or repealing any provision of an Act is subject to
annulment in pursuance of a resolution of the House of Commons.
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Penalties for failure to make returns etc
(1)
Schedule 10 contains provision amending Schedule 55 to FA 2009 (penalties in
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respect of failures to make returns and other documents relating to liabilities
for tax).
(2)
Schedule 10 comes into force on such day as the Treasury may by order
appoint.
(3)
An order under subsection (2)—
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(a)
may commence a provision generally or only for specified purposes,
and
(b)
may appoint different days for different provisions or for different
purposes.
(4)
The Treasury may by order make any incidental, supplemental, consequential,
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transitional, transitory or saving provision which appears appropriate in
consequence of, or otherwise in connection with, that Schedule.
(5)
An order under subsection (4) may—
(a)
make different provision for different purposes, and
(b)
make provision amending, repealing or revoking any Act or
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subordinate legislation whenever passed or made (including this Act
and any Act amended by it).
(6)
An order under this section is to be made by statutory instrument.
(7)
A statutory instrument containing an order under subsection (4) which
includes provision amending or repealing any provision of an Act is subject to
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annulment in pursuance of a resolution of the House of Commons.
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Penalties for failure to pay tax
(1)
Schedule 11 contains provision amending Schedule 56 to FA 2009 (penalties in
respect of failures to comply with obligations to pay tax).
(2)
Schedule 11 comes into force on such day as the Treasury may by order
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appoint.
(3)
An order under subsection (2)—
(a)
may commence a provision generally or only for specified purposes,
and
(b)
may appoint different days for different provisions or for different
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purposes.
(4)
The Treasury may by order make any incidental, supplemental, consequential,
transitional, transitory or saving provision which appears appropriate in
consequence of, or otherwise in connection with, that Schedule.
(5)
An order under subsection (4) may—
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(a)
make different provision for different purposes, and

Finance (No.2) Bill
Part 3 — Administration
20

(b)
make provision amending, repealing or revoking any Act or
subordinate legislation whenever passed or made (including this Act
and any Act amended by it).
(6)
An order under this section is to be made by statutory instrument.
(7)
A statutory instrument containing an order under subsection (4) which
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includes provision amending or repealing any provision of an Act is subject to
annulment in pursuance of a resolution of the House of Commons.
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Recovery of overpaid stamp duty land tax and petroleum revenue tax etc
(1)
Schedule 12 contains—
(a)
provision amending Part 4 of FA 2003 (stamp duty land tax) in respect
10
of the recovery of overpaid tax etc, and
(b)
provision amending Schedule 2 to OTA 1975 (management and
collection of petroleum revenue tax) in respect of the recovery of
overpaid tax etc.
(2)
The amendments made by Schedule 12 have effect in relation to claims made
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on or after 1 April 2011.
(3)
The Treasury may by order make any incidental, supplemental, consequential,
transitional, transitory or saving provision which appears appropriate in
consequence of, or otherwise in connection with, that Schedule.
(4)
An order under this section may—
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(a)
make different provision for different purposes, and
(b)
make provision amending, repealing or revoking any Act or
subordinate legislation whenever passed or made (including this Act
and any Act amended by it).
(5)
An order under this section is to be made by statutory instrument.
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(6)
A statutory instrument containing an order under this section which includes
provision amending or repealing any provision of an Act is subject to
annulment in pursuance of a resolution of the House of Commons.
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Excise duties: compliance checks
(1)
Schedule 13 contains provision about information and inspection powers,
30
record-keeping and time limits for assessments and claims involving excise
duties.
(2)
The amendments made by that Schedule come into force on such day as the
Treasury may by order made by statutory instrument appoint.
(3)
An order under subsection (2)—
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(a)
may appoint different days for different provisions or for different
purposes, and
(b)
may include transitional provision and savings.

Finance (No.2) Bill
Part 5 — Final provisions
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Part 4
Miscellaneous provisions
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Pension scheme under section 67 of Pensions Act 2008
(1)
A pension scheme established under section 67 of the Pensions Act 2008 is to
be regarded as an occupational pension scheme for the purposes of Part 4 of FA
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2004.
(2)
In section 67 of the Pensions Act 2008 (duty to establish pension scheme) —
(a)
omit subsection (3), and
(b)
in subsection (4), for “that Chapter” substitute “Chapter 2 of Part 4 of
the Finance Act 2004”.
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Asbestos compensation settlements
Schedule 14 contains provision about the taxation of settlements the purpose
of which is to make compensation payments to or in respect of individuals
affected by an asbestos-related condition.
Part 5
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Final provisions
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Interpretation
(1)
In this Act—
“BGDA 1981” means the Betting and Gaming Duties Act 1981;
“CAA 2001” means the Capital Allowances Act 2001;
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“CTA 2009” means the Corporation Tax Act 2009;
“CTA 2010” means the Corporation Tax Act 2010;
“HODA 1979” means the Hydrocarbon Oil Duties Act 1979;
“ICTA” means the Income and Corporation Taxes Act 1988;
“IHTA 1984” means the Inheritance Tax Act 1984;
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“ITA 2007” means the Income Tax Act 2007;
“ITEPA 2003” means the Income Tax (Earnings and Pensions) Act 2003;
“ITTOIA 2005” means the Income Tax (Trading and Other Income) Act
2005;
“OTA 1975” means the Oil Taxation Act 1975;
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“TCGA 1992” means the Taxation of Chargeable Gains Act 1992;
“TIOPA 2010” means the Taxation (International and Other Provisions)
Act 2010;
“TMA 1970” means the Taxes Management Act 1970;
“TPDA 1979” means the Tobacco Products Duty Act 1979;
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“VATA 1994” means the Value Added Tax Act 1994;
“VERA 1994” means the Vehicle Excise and Registration Act 1994.
(2)
In this Act—
“FA”, followed by a year, means the Finance Act of that year;
“F(No.2)A”, followed by a year, means the Finance (No.2) Act of that year.
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