Schedule 14 - Enterprise management incentives: amendments
Finance Bill
11:45 am
Mr Edward O'Hara (Knowsley South, Labour)
With this we may take the following amendments: No. 23, in schedule 15, page 152, line 22, at end insert—
`Indexation of amounts
.—(1) If the retail prices index for the month of September preceding a year of assessment is higher than it was for the previous September, then, unless Parliament otherwise determines, section 290, subsection (6A) of section 293 and subsection (2)(a) of section 301A shall apply for that year as if each amount specified in them as they applied for the previous year (whether by virtue of this paragraph or otherwise) there were substituted an amount arrived at by increasing the amount for the previous year by the same percentage as the percentage increase in the retail prices index, and—
jf13Ý(a) if in the case of an amount specified in subsection (1) of section 290 the result is not a multiple of £10, rounding it up to the nearest amount which is such a multiple;
(b) if in the case of an amount specified in subsection (2)(a) of section 301A the result is not a multiple of £100, rounding it up to the nearest amount which is such a multiple;
(c) if in the case of the amount specified in subsection (2) of section 290 the result is not a multiple of £10,000, rounding it up to the nearest amount which is such a multiple;
(d) if in the case of the amounts specified in subsection (6A) of section 293 the result is not a multiple of £100,000, rounding it up to the nearest amount which is such a multiple.
(2) The Treasury shall in each year of assessment make an order specifying the amounts which by virture of sub-paragraph (1) above will be treated as specified for the following year of assessment in section 290 and subsection (6A) of section 293.'.
No. 29, in schedule 16, page 170, line 11, at end insert—
`Indexation of amounts
.—(1) If the retail prices index for the month of September preceding a year of assessment is higher than it was for the previous September, then, unless Parliament otherwise determines, paragraph 22 (gross assets requirement) shall apply for that year as if each amount specified in that paragraph as they applied for the previous year (whether by virtue of this paragraph or otherwise) there were substituted an amount arrived at by increasing the amount for the previous year by the same percentage as the percentage increase in the retail prices index, and if the result is not a multiple of £100,000 rounding it up to the nearest amount which is such a multiple.
jf6Ý (2) The Treasury shall in each year of assessment make an order specifying the amounts which by virtue of sub-paragraph (1) above will be treated as specified for the following year of assessment in paragraph 22.'.