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House of Lords

Session 2009 - 10 Internet Publications Other Bills before Parliament

Finance Bill
EUROPEAN CONVENTION ON HUMAN RIGHTS
Lord Myners has made the following statement under section 19(1)(a) of the Human
Rights Act 1998:
In my view the provisions of the Finance Bill are compatible with the Convention
rights.
HL Bill 54 54/5
Finance Bill
Contents
Part 1
Charges, rates etc
Income tax
1    Charge, main rates, thresholds and allowances etc for 2010-11
Corporation tax
2    Charge and main rate for financial year 2011
3    Small profits rates and fractions for financial year 2010
Capital gains tax
4    Increase in entrepreneurs’ relief
Capital allowances
5    Annual investment allowance
Stamp duty land tax
6    Relief for first-time buyers
7    Rate in respect of residential property where consideration over £1m
Inheritance tax
8    Rate bands
Alcohol and tobacco
9    Rates of alcoholic liquor duties
10    Rates of tobacco products duty
Vehicle excise duty
11    Rates for motorcycles
HL Bill 54                                                                                               54/5
Finance Bill ii
Fuel duties
12    Fuel duties: rates and rebates from April 2010
13    Fuel duties: further changes in rates and rebates
Other environmental taxes
14    Rates of air passenger duty
15    Standard rate of landfill tax
16    Rate of aggregates levy
17    Rates of climate change levy
18    Climate change levy: reduced-rate supplies
Gambling
19    Rate of bingo duty
20    Rates of gaming duty
21    Amusement machine licence duty
New taxes
22    Bank payroll tax
23    Pensions: high income excess relief charge
Part 2
Anti-avoidance and revenue protection
Losses, capital allowances etc
24    Sideways relief etc
25    Property loss relief
26    Capital allowance buying
27    Leased assets
28    Cushion gas
29    Sale of lessors: consortium relationships
Charities etc
30    Charities and community amateur sports clubs: definitions
31    Gifts of shares etc to charities
32    Miscellaneous amendments
Remittance basis
33    “Relevant person”
34    Foreign currency bank accounts
Other international matters
35    Penalties: offshore income etc
36    Reliefs and reductions for foreign tax
37    Asset transfer to non-resident company: recovery of postponed charge
Finance Bill iii
Securities etc
38    Transactions in securities
39    Approved CSOP schemes: eligible shares
40    Unauthorised unit trusts
41    Index-linked gilt-edged securities
42    Approved share incentive plans
Loan relationships and derivative contracts
43    Close companies: release of loans to participators etc
44    Connected companies: releases of debts
45    Relationships treated as loan relationships etc: repos
46    Risk transfer schemes
Insurance companies
47    Apportionment of asset value increases
Pensions
48    Extension of special annual allowance charge
49    Information
Value added tax and insurance premium tax
50    Extension of reverse charge provisions to supplies of services
51    Insurance premium tax: separate contracts
Inheritance tax
52    Reversionary interests of purchaser or settlor etc in relevant property
53    Interests in possession
Stamp taxes
54    SDRT: depositary receipt systems and clearance services systems
55    SDLT: partnerships
Administration
56    Disclosure of tax avoidance schemes
57    Opening of postal packets
Part 3
Other provisions
Income tax: benefits in kind
58    Zero and low emission vehicles
59    Cars with CO2 emissions figure
60    Subsidised meals for employees: salary sacrifice etc
Finance Bill iv
Corporation tax
61    Sale of lessors: election out of charge
62    Accounting standards: loan relationships and derivative contracts
Miscellaneous
63    Champions League final
64    FSCS intervention in relation to insurance contracts
65    Stamp duty and SDRT: clearing houses
66    Alcoholic liquor duties: power to amend definition of “cider”
67    Climate change levy: compatible state aid
68    Pensions: minor corrections
Final provisions
69    Interpretation
70    Short title
Schedule 1   —    Bank payroll tax
Part 1   —
The tax
Part 2   —
Collection and management of tax
Part 3   —
Definitions
Schedule 2   —    Pensions: high income excess relief charge
Schedule 3   —    Sideways relief etc
Schedule 4   —    Capital allowance buying
Schedule 5   —    Leased assets
Schedule 6   —    Charities and community amateur sports clubs: definitions
Part 1   —
Definition of “charity”, “charitable company” and “charitable
trust”
Part 2   —
Repeals of superseded definitions and other consequential
amendments
Part 3   —
Meaning of “community amateur sports club”
Part 4   —
Commencement
Schedule 7   —    Gifts of shares etc to charities
Schedule 8   —    Charities: miscellaneous amendments
Schedule 9   —    Foreign currency bank accounts
Schedule 10   —    Penalties: offshore income etc
Schedule 11   —    Reliefs and reductions for foreign tax
Schedule 12   —    Transactions in securities
Schedule 13   —    Unauthorised unit trusts
Schedule 14   —    Index-linked gilt-edged securities
Schedule 15   —    Connected companies: releases of debts
Schedule 16   —    Risk transfer schemes
Schedule 17   —    Disclosure of tax avoidance schemes
Schedule 18   —    Sale of lessors: election out of charge
Schedule 19   —    Accounting standards: loan relationships and derivative
contracts
Schedule 20   —    Champions League final

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