Finance Bill

With this it will be convenient to discuss the following: Amendment No. 14, page 156, line 42, at end insert— ‘(5A) Where the relevant tax increase exceeds £30,000— (a) the nomination will be valid but the charge will be capped at £30,000; (b) the individual will be notified that the cap has been enforced and will have the opportunity to revise the nomination of foreign income and gains; (c) a revised nomination is not necessary for the remittance basis claim to be valid for the tax year.’. Government amendments Nos. 40 to 49. Amendment No. 15, page 169, line 40 , leave out from beginning to end of line 13 on page 170. Government amendments Nos. 50 to 52. Amendment No. 20, page 171, line 16, after ‘service’, insert ‘as defined in accordance with subsection (4A)’. Government amendment No. 53. Amendment No. 21, page 171, line 21, at end insert— ‘(4A) The Treasury may by order define those services which qualify as relevant services. (4B) The power to make an order under this section is exercisable by statutory instrument. (4C) A statutory instrument containing an order under subsection (4A) may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, the House of Commons.’. Government amendments Nos. 54 to 56. Amendment No. 110, page 181, line 35, after ‘etc)’, insert— (a) the relevant securities or securities option shall not be treated as brought to, or received or used in, the United Kingdom if the securities are, or the securities option is, situated in the United Kingdom and cannot be situated elsewhere, and (b) ’. Government amendments Nos. 57 and 58. Amendment No. 111, page 183, line 4, at end insert— ‘(7A) This section is subject to section 41E (foreign securities income: just and reasonable apportionment).’. Amendment No. 112, page 184, line 27, after ‘if’, insert ‘the relevant period or’. Amendment No. 113, leave out lines 30 to 32 and insert— ‘(2) The relevant period or the amount of the securities income that is ““foreign”” is such period or such amount as is just and reasonable (rather than the period calculated in accordance with section 41B or the amount calculated in accordance with section 41C).’. Government amendments Nos. 59 to 61. Amendment No. 94, page 196, line 5, leave out paragraphs 80 to 91 and insert— ‘80 The amendments made by Part 1 of this Schedule shall have effect from the passing of this Act.’. Amendment No. 10, line 37, at end insert— ‘(2A) Nothing in section 832 of ITTOIA 2005 (as amended by this Schedule) applies in relation to any of an individual’s relevant foreign income that— (a) arose in tax year 2007/08 or any earlier tax year; and (b) has been brought to, or received, or used in, the United Kingdom by or for the benefit of any relevant person at any time before 6th April 2008.’. Government amendments Nos. 62 and 63. Amendment No. 11, page 197, line 42, at end insert— ‘(5A) Where the qualifying property referred to in condition C of section 809L was gifted prior to 6th April 2008 one reads section 809L(4)(a) as follows: ““is brought to or received in the United Kingdom by a relevant person.””’. Amendment No. 12, line 42, at end insert— ‘(5A) Where the qualifying property referred to in condition C of section 809L was brought to the UK prior to 6th April 2008 one reads section 809L(4)(a) as follows: ““is brought to or received in the United Kingdom by a relevant person.””’. Government amendments Nos. 64 to 68. Amendment No. 17, page 198, leave out line 38 and insert ‘or’. Government amendment No. 18. Amendment No. 19, page 199, line 6, after ‘money’, insert ‘, or directed that the money be used,’. Government amendments Nos. 70 to 75. Amendment No. 96, page 201, line 41, leave out paragraph 98. Government amendment No. 76. Amendment No. 97, page 204, line 10, leave out paragraph 105. Government amendments Nos. 77 and 78. Amendment No. 98, page 209, line 19, leave out paragraph 115. Government amendment No. 79. Amendment No. 16, page 214, line 27, at end insert— ‘(11A) For the avoidance of doubt, where after 6th April 2008 a re-organisation has taken place which meets the conditions in section 127 of TCGA 1992, the new holding (or part of that holding) is a relevant asset if the condition in sub-paragraph (10)(b) or the conditions in sub-paragraphs (11)(b) and (c) would be met were the references there to the asset to be read as references to the new asset or the original asset.’. Amendment No. 99, page 221, line 9, leave out paragraph 148. Government amendments Nos. 80 and 81. Amendment No. 100, page 223, line 14, leave out paragraph 161. Government amendments Nos. 82 to 86. Amendment No. 101, page 226, line 1, leave out paragraph 171. Government amendment No. 87. Amendment No. 95, line 2, at end insert— ‘172 The amendments made by Part 2 of this Schedule shall have effect from 6th April 2009.’.