House of Commons Public Bill Committee Proceedings

House of Commons

Session 2010 - 11
Internet Publications
Other Bills before Parliament

5

House of Commons

Tuesday 26 October 2010

Public Bill Committee Proceedings

Finance (No. 2) Bill

[Third AND FOURTH SittingS]

Clause 11 Agreed to.

Mr David Gauke

Agreed to  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

Agreed to  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—

(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

Public Bill Committee Proceedings: 26 October 2010
6

Finance (N, continued

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

Schedule, as amended, Agreed to.

Clause 12 Agreed to.

Mr David Hanson

Chris Leslie

Kerry McCarthy

Withdrawn  24

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

Mr David Hanson

Chris Leslie

Kerry McCarthy

Not called  25

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

Mr David Hanson

Chris Leslie

Kerry McCarthy

Not called  26

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

Mr David Hanson

Chris Leslie

Kerry McCarthy

Not called  22

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

company’.

Mr David Hanson

Chris Leslie

Kerry McCarthy

Not called  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

Withdrawn  21

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

Schedule Agreed to.

Clause 13 Agreed to.

Public Bill Committee Proceedings: 26 October 2010
7

Finance (N, continued

Mr David Gauke

Agreed to  7

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

Clause, as amended, Agreed to.

Clauses 15 to 17 Agreed to.

Mr David Hanson

Kerry McCarthy

Chris Leslie

Withdrawn  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.’.

Clause Agreed to.

Schedule 7, Clause 19, Schedule 8, and Clauses 20 to 23 agreed to.

Mr David Hanson

Chris Leslie

Kerry McCarthy

Withdrawn  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

Not called  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

Not called  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.’.

Clause Agreed to.

Public Bill Committee Proceedings: 26 October 2010
8

Finance (N, continued

Mr David Hanson

Chris Leslie

Kerry McCarthy

Withdrawn  19

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

Mr David Hanson

Chris Leslie

Kerry McCarthy

Not selected  20

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

Clause Agreed to.

Schedule 9 Agreed to.

Mr David Hanson

Chris Leslie

Kerry McCarthy

Withdrawn  17

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

Mr David Hanson

Chris Leslie

Kerry McCarthy

Not called  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.’.

Clause Agreed to.

Schedule 10 Agreed to.

[Adjourned until Thursday at 9.00 am.



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