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19

 

House of Commons

 
 

Tuesday 26 October 2010

 

Public Bill Committee

 

New Amendments handed in are marked thus Parliamentary Star

 

Parliamentary Star - whiteAmendments which will comply with the required notice period at their next appearance

 

Finance (No. 2) Bill


 

Note

 

The Amendments have been arranged in accordance with the Order of the

 

Committee [19 October 2010].

 


 

Mr David Gauke

 

8

 

Schedule  5,  page  49,  leave out lines 23 to 31 and insert ‘in respect of a matter is not

 

equal to the tax amount in respect of that matter.

 

(2)    

For this purpose—

 

(a)    

the “accounts amount” in respect of a matter is—

 

(i)    

the amount disclosed in the financial statements of the

 

worldwide group in respect of the matter, or

 

(ii)    

if no amount is so disclosed, nil, and

 

(b)    

the “tax amount” in respect of a matter is—

 

(i)    

the amount of the deduction to which a member of the worldwide

 

group is entitled under a provision of the Corporation Tax Acts

 

in respect of the matter,

 

(ii)    

if more than one member is entitled to such a deduction, the total

 

such deductions, or

 

(iii)    

if no member is entitled to such a deduction, nil.’.

 

Mr David Gauke

 

9

 

Schedule  5,  page  52,  line  12,  leave out from ‘amount’ to end of line 21 and insert

 

‘in respect of a matter is not equal to the tax amount in respect of that matter.

 

(2)    

For this purpose—

 

(a)    

the “accounts amount” in respect of a matter is—


 
 

Public Bill Committee: 26 October 2010                  

20

 

Finance (N, continued

 
 

(i)    

the amount disclosed in the financial statements of the

 

worldwide group in respect of the matter, or

 

(ii)    

if no amount is so disclosed, nil, and

 

(b)    

the “tax amount” in respect of a matter is—

 

(i)    

the amount of the deduction to which a member of the worldwide

 

group is entitled under a provision of the Corporation Tax Acts

 

in respect of the matter,

 

(ii)    

if more than one member is entitled to such a deduction, the total

 

such deductions, or

 

(iii)    

if no member is entitled to such a deduction, nil.’.

 


 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

24

 

Schedule  6,  page  56,  line  21,  leave out from ‘related’ to end of line 23.

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

25

 

Schedule  6,  page  56,  line  28,  leave out from ‘related’ to end of line 30.

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

26

 

Schedule  6,  page  56,  line  32,  leave out from ‘company’ to ‘is’ in line 34.

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

22

 

Schedule  6,  page  56,  line  38,  leave out ‘without the involvement of a relevant

 

company’.

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

23

 

Schedule  6,  page  56,  line  39,  leave out from beginning to end of line 16 on page 57.

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

21

 

Schedule  6,  page  58,  line  5,  after ‘directly’, insert ‘or indirectly.’.

 



 
 

Public Bill Committee: 26 October 2010                  

21

 

Finance (N, continued

 
 

Mr David Gauke

 

7

 

Clause  14,  page  11,  leave out line 21 and insert ‘L + RUL’.

 


 

Mr David Hanson

 

Kerry McCarthy

 

Chris Leslie

 

12

 

Clause  18,  page  15,  line  11,  at end add—

 

‘(2)    

The Treasury shall by 6 April 2013 produce a report for publication on the

 

operation and take up of the scheme.’.

 


 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

10

 

Clause  24,  page  18,  line  8,  at end insert—

 

‘(d)    

consult with interested parties on the material to be listed; and

 

(e)    

publish any responses from interested parties that have been

 

considered.’.

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

14

 

Clause  24,  page  18,  line  15,  after ‘relevant’, insert ‘which must be published at the

 

time of listing.’.

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

11

 

Clause  24,  page  18,  line  17,  at end add—

 

‘(3)    

The Treasury must give six months notice of any changes made under this section

 

prior to implementation.’.

 


 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

19

 

Clause  25,  page  18,  line  25,  at end insert ‘, subject to 12 weeks notice’.


 
 

Public Bill Committee: 26 October 2010                  

22

 

Finance (N, continued

 
 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

20

 

Clause  25,  page  18,  line  31,  after ‘by’, insert ‘affirmative’.

 


 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

17

 

Clause  26,  page  19,  line  9,  at end insert ‘subject to 12 weeks notice’.

 

Mr David Hanson

 

Chris Leslie

 

Kerry McCarthy

 

18

 

Clause  26,  page  19,  line  26,  at end add—

 

‘(8)    

Such provisions under this clause shall be subject to formal review within 12

 

months of the date of Royal Assent to the Finance Act (No. 3) Act 2010.’.

 


 

Mr David Hanson

 

Kerry McCarthy

 

Chris Leslie

 

15

 

Schedule  14,  page  106,  line  29,  leave out ‘24 March 2010’ and insert ‘the date of

 

Royal Assent to the Finance (No. 3) Act 2010’.

 

Mr David Hanson

 

Kerry McCarthy

 

Chris Leslie

 

13

 

Schedule  14,  page  107,  line  16,  leave out ‘24 March 2010’ and insert ‘the date of

 

Royal Assent to the Finance (No. 3) Act 2010’.

 

Mr David Hanson

 

Kerry McCarthy

 

Chris Leslie

 

16

 

Schedule  14,  page  108,  line  4,  leave out ‘24 March 2010’ and insert ‘the date of

 

Royal Assent to the Finance (No. 3) Act 2010’.

 



 
 

Public Bill Committee: 26 October 2010                  

23

 

Finance (N, continued

 
 

New Clause

 

Definition of ‘incapacitated person’

 

Chris Leslie

 

Mr David Hanson

 

Kerry McCarthy

 

NC1

 

Parliamentary Star    

To move the following Clause:—

 

‘(1)    

The Taxes Management Act 1970, section 118 is amended as follows.

 

(2)    

In subsection (1), the definition of “incapacitated person” is substituted as

 

follows:

 

“‘incapacitated person’ means any person who, within the meaning of

 

section 1(1) of the Mental Capacity Act 2005, lacks capacity in relation

 

to tax or financial matters.”’.

 

 

resolUtion of the committee [19 october 2010]

 

That the Committee shall meet—

 

    (a) on Tuesdays at 10.30 am and 4.30 pm, and

 

    (b) on Thursdays (other than 21 October 2010) at 9.00 am and 1.00 pm,

 

when the House is sitting.

 

 

Order of the Committee [19 october 2010]

 

That the order in which proceedings are taken shall be Clause 1, Schedule 1, Clauses 2

 

to 5, Schedule 2, Clauses 6 to 9, Schedule 3, Clause 10, Schedule 4, Clause 11, Schedule

 

5, Clause 12, Schedule 6, Clauses 13 to 18, Schedule 7, Clause 19, Schedule 8, Clauses

 

20 to 25, Schedule 9, Clause 26, Schedule 10, Clause 27, Schedule 11, Clause 28,

 

Schedule 12, Clause 29, Schedule 13, Clauses 30 and 31, Schedule 14, new Clauses, new

 

Schedules, Clauses 32 and 33.

 


 
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