Session 2010 - 12
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Other Bills before Parliament


Public Bill Committee: 7 June 2011                     



Finance (No. 3) Bill continued



But nothing in subsection (3) prevents credit being allowed under


Chapter 2 of this Part (double taxation relief by way of credit) against any


tax so charged.



In determining whether a pension or other similar remuneration is paid


out of sums or assets within subsection (3)(a), it is to be assumed that it


is paid out of such sums or assets in priority to any other sums or assets.



A “relevant transfer”, in respect of any sums or assets, is a transaction or


series of transactions as a result of which—



the sums or assets are transferred out of a pension scheme, and



the sums or assets or related sums or assets (or both) are


transferred into the pension scheme under which the pension or


other similar remuneration is paid.



A scheme is a “tax avoidance scheme” if the main purpose, or one of the


main purposes, of any party to the scheme in entering into the scheme is


to secure an income tax advantage for any person under this Part by virtue


of provision mentioned in subsection (2) made by double taxation





For the purposes of subsection (7)—



“scheme” includes any scheme, arrangements or understanding


of any kind whatever, whether or not legally enforceable,


involving a single transaction or two or more transactions,



it does not matter whether or not the double taxation


arrangements were in existence at the time the tax avoidance


scheme was entered into or given effect to, and



“income tax advantage” is to be construed in accordance with


section 572A(3) to (5) of ITA 2007.



In this section—


“pension” and “other similar remuneration” have the same meaning as in


the Model Tax Convention on Income and on Capital published (from


time to time) by the Organisation for Economic Cooperation and




“pension scheme” has the same meaning as in Part 4 of FA 2004 (see section


150 of that Act);


“related sums or assets”, in relation to other sums or assets (“the original


sums or assets”), means sums or assets which arise, or (directly or


indirectly) derive, from the original sums or assets or from sums or assets


which so arise or derive.”



The amendment made by this section has effect in relation to the tax year 2011-


12 and subsequent tax years (and it does not matter whether the tax avoidance


scheme was entered into or effected before, or on or after, 6 April 2011).’.



Private finance initiative income


Caroline Lucas




To move the following Clause:—


Public Bill Committee: 7 June 2011                     



Finance (No. 3) Bill continued


‘The Treasury shall, within six months of the passing of this Act, report to


Parliament its assessment of the amount of tax revenue forgone by companies


receiving payments under Private Finance Initiative contracts being based outside


the United Kingdom.’.



VAT and charitable healthcare providers


Nic Dakin




To move the following Clause:—


‘The Treasury shall, within one year of the passing of this Act, lay a report before


Parliament on the treatment for Value Added Tax of supplies by charities to


bodies exercising functions on behalf of a Minister of the Crown of healthcare or


welfare services or associated goods’.



Review of the bank levy


Stella Creasy


David Miliband


Mrs Jenny Chapman


Steve Rotheram


Mr Graham Allen


Alex Cunningham


Hugh Bayley


Nic Dakin


Mr John Leech




To move the following Clause:—



The Government shall lay before Parliament a review of the bank levy which will


consider whether the levy should be applied to groups judged by the Financial


Services Authority (or its successor body) to have engaged in high cost credit


lending which is detrimental to consumers. This review shall consider the


following matters—



the impact such an application could have on the provision of high cost


credit to consumers;



the timetable for imposition of the banking levy to prevent further


consumer detriment in the provision of high cost credit;



the consequences of a failure by Government to intervene in the high cost


credit market for UK consumers; and



at what level the levy should be set at for such bodies so as to discourage


lending in a manner which is detrimental to consumers.’.



Public Bill Committee: 7 June 2011                     



Finance (No. 3) Bill continued


Order of the House [26 April 2011]





Clauses 4, 7, 10, 19, 35 and 72 be committed to a Committee of the whole





The remainder of the Bill be committed to a Public Bill Committee.



When the provisions of the Bill considered by the Committee of the whole


House and the Public Bill Committee have been reported to the House, the


Bill be proceeded with as if it had been reported as a whole to the House from


the Public Bill Committee.


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