Amendments proposed to the Finance Bill - continued House of Commons

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Mr Michael Howard
Mr John Bercow
Mr Howard Flight [R]
Mr Christopher Chope
Mr Peter Luff

25

*Schedule     12,     page     189,     line     9,     after 'enterprise', insert 'or a small or medium-sized enterprise which makes an election pursuant to paragraph (16A) below'.

   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight [R]
Mr Christopher Chope
Mr Peter Luff

26

*Schedule     12,     page     194,     line     35,     at end insert—

'Regulatory simplification


    16A. (1)   In respect of any financial year any small or medium-sized enterprise may elect to forego the reliefs available to it under Schedule 20 to the Finance Act 2000 (tax relief for expenditure on research and development) and instead claim relief under this Schedule as if it were a large enterprise.

    (2)   Any election pursuant to this paragraph must be made in writing to the Inspector of Taxes prior to the end of the financial year in question.'.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

4

*Page     37,     line     37,     leave out Clause 53.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

5

*Schedule     13,     page     207,     leave out lines 18 to 20 and insert—

    '(1)   This Schedule applies to expenditure incurred on or after 1st April 2002.'.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

6

*Schedule     14,     page     209,     line     38,     leave out from 'after' to end of line 39 and insert '1st April 2002'.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

13

*Page     38,     line     1,     leave out Clause 54.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

28

*Clause     56,     page     38,     leave out from beginning of line 39 to end of line 9 on page 39 and add—

    '(3)   Schedules 16 and 17 shall come into force on 1st April 2002.

    (4)   For the purposes of subsection (3), Schedule 16 shall have effect in relation to—

      (i) investments made on or after 17th April 2002, and

      (ii) claims may be made in a year of assessment ending on or after 17th April 2002

    (5)   For the purposes of subsection (3), Schedule 17 shall have effect so that—

      (i) paragraphs 2 to 4 shall have effect for years of assessment ending on or after 17th April 2002, and

      (ii) paragraph 5 of Schedule 17 shall have effect for accounting periods ending on or after that day.'.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

27

*Page     39,     line     10,     leave out Clause 57.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

18

*Schedule     19,     page     246,     line     19,     at end insert—

      '(ia) is a car adapted to run on road fuel gas (with an applicable CO2 emissions figure not exceeding 240 grams per kilometer driven), or.'.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

19

*Clause     59,     page     39,     line     31,     at end insert—

      '(aa) it is a car adapted to run on road fuel gas (with an applicable CO2 emissions figure not exceeding 240 grams per kilometre driven) or.'.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

20

*Schedule     20,     page     249,     line     29,     at end insert—

      "Natural Gas" shall include "road fuel gas".

      "Road Fuel Gas" has the same meaning as in section 168AB of the Income and Corporation Taxes Act 1988.'.


   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

17

*Clause     61,     page     40,     leave out lines 14 and 15 and insert—

    '(5)   General exclusion 6 shall not apply to expenditure incurred on or after 17th April 2002.'.


NEW CLAUSES

Tax relief for expenditure on vaccine research etc (No. 2)

   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

NC1

*To move the following Clause:—

    '.—(1)   Grants of up to £15m per annum may be awarded by order of the Secretary of State for qualifying research and development.

    (2)   For the purposes of subsection (1), qualifying research and development means research and development relating to vaccines or medicines for use in humans—

      (a) for the prevention or treatment of tuberculosis,

      (b) for the prevention or treatment of malaria,

      (c) for the prevention of infection by human immunodeficiency virus, or

      (d) for the prevention of the onset, or the treatment, of acquired immune deficiency syndrome resulting from infection by human immunodeficiency virus in the prescribed clades only

    (3)   For the purposes of subsection (2) "prescribed clade" means clade A, C, D or E or such other class as the Secretary of State may by regulations prescribe.

    (4)   This section has effect from 1st April 2002.'.


Gifts of medical supplies and equipment (No. 2)

   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

NC2

*To move the following Clause:—

    '(1)   Where on or after 1st April 2002 any person ("the donor") makes a gift of relevant goods from trading stock for a relevant purpose then:

      (a) no amount shall be required to be brought into account as a trading receipt or gain in consequence of the making or receiving of the gift; and

      (b) the costs of making and delivering the gift shall be deducted as an expense of the trade of the donor in computing the profits of that trade.

    (2)   Where the donor or any person connected with him receives any benefit in money or money's worth attributable to the making of that gift, then for the accounting period in which the benefit is received the donor shall be deemed to be in receipt of income chargeable to tax under Case VI of Schedule D on an amount equal to the higher of

      (a) any relief claimed pursuant to subsection (1), and

      (b) the amount of the benefit in question.

    (3)   The Secretary of State may by order prescribe relevant purposes and relevant goods to have effect for the purposes of this section, either generally or in respect of a given time or situation.

    (4)   Section 839 of the Taxes Act 1988 (connected persons) applies for the purposes of subsection (2).'.


Community amateur sports clubs to be treated as charities

   

Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff

NC3

*To move the following Clause:—

    '.—(1)   The promotion of sport, provision or sports facilities, physical education or healthy recreation by a registered community amateur sports club shall be treated as having a charitable purpose for the purposes of the Taxes Acts with effect from 17th April 2002.

    (2)   Paragraphs 1, 2, 3, 11, 12, 13, 14 and 15 of Schedule 18 shall have effect from 17th April 2002.

    (3)   Paragraphs 4, 5, 6, 7, 8, 9, 10 and 16 of Schedule 18 shall have effect.'.


 
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