Finance Bill

Public Bill Committees

• Finance Bill, 1st sitting (0 speeches)
  [Mr. Roger Gale in the Chair]
  • (Except Clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and Schedules 1, 5 and 38) (12 speeches)
    Order. Before we start, there are a couple of housekeeping matters. First, hon. Members who have not already done so may, while I am in the Chair, remove their jackets. I cannot speak for Mr....
  • Clause 1 - Rates of tobacco products duty (42 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 2 - Rates of duty on cider (16 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 3 - Duty on beverages made with spirits (21 speeches)
    I beg to move amendment No. 1, in page 2, line 18, leave out subsection (1) and insert— '(1) The Treasury shall lay before Parliament on or before 31st December 2002 a report on the...
• Finance Bill, 2nd sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • (Except clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and schedules 1, 5 and 38) - Clause 3 - Duty on beverages made with spirits to be at spirits rate (35 speeches)
    Amendment proposed [this day]: No. 1, in page 2, line 18, leave out subsection (1) and insert— '(1) The Treasury shall lay before Parliament on or before 31st December 2002 a report on the...
  • Clause 5 - Acquisition of information etc. (15 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 6 - Regulating trade in rebated heavy oil etc (8 speeches)
    I was expecting the Financial Secretary to speak to the clause first, because I assumed that he would wish to counter the criticism made by the Federation of Petroleum Suppliers, the trade...
• Finance Bill, 3rd sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • Clause 13 - General betting duty: spread bets (2 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 14 - General betting duty: overseas bet-brokers (17 speeches)
    Will the Minister explain how these provisions are consistent with European Union law and the open market? It seems to be a protectionist measure and I had assumed, perhaps naively and not being...
  • Clause 15 - Cars registered on or after 1st March 2001: rates of duty (14 speeches)
    I beg to move amendment No. 32, in page 10, line 20, at end insert— ''( ) In paragraph 1B(b) of Schedule 1 to the Vehicle Excise and Registration Act 1994 (c. 22) the words 'or the...
  • Clause 16 - Vans registered on or after 1st march 2001: rates of duty (9 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 17 - Disclosure of information for vehicle excise duty exemptions (3 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 18 - Motorcycles (and motorcycle trade licences): rates of duty (6 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 20 - Calculating cylinder capacity of vehicles (6 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 22 - Disallowance of input tax where consideration not paid (22 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 24 - Invoices (2 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 25 - Relief from vat on acquisition if importation would attract relief (7 speeches)
    Question proposed, That the clause stand part of the Bill.
• Finance Bill, 4th sitting (1 speech)
  [Mr. Roger Gale in the Chair]
  • Clause 30 - Charge and main rate for financial year 2003 (15 speeches)
    I beg to move amendment No. 7, page 22, line 3, at end add— '(2) In respect of that and subsequent financial years, if the retail prices index for the month of September preceding a...
  • Clause 31 - Small companies' rate and fraction for financial year 2002 (10 speeches)
    I beg to move amendment No. 35, in page 22, line 5, at the beginning insert— '(1) An individual subject to income tax on profits or gains under Schedule D Case I or II shall be entitled to...
  • Clause 32 - Corporation tax starting rate and fraction for financial year 2002 (31 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 33 - Employer-subsidised public transport business services (13 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 36 - Exemption of minor benefits: application to non-cash vouchers (6 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 34 - Car fuel: calculation of cash equivalent of benefit (16 speeches)
    I beg to move amendment No. 8, in page 23, line 10, at end insert— 'or, where expenditure on the car in question is first-year qualifying expenditure within the meaning of section 45D of...
  • Clause 37 - Minor amendments to Schedule E charge (4 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Schedule 6 - Minor amendments to Schedule E charge (11 speeches)
    I beg to move amendment No. 15, in page 141, line 2, at end insert— '1A At the end of that section insert— ''(10) Where tax is chargeable on any gain under this section by reason of...
  • Clause 38 - Provision of services through an intermediary: minor amendments (5 speeches)
    I beg to move amendment No. 14, in page 24, line 35, leave out from 'payment)' to end of line 28 on page 25 and insert-- 'in step Three of paragraph 7 after ''by the worker out of those...
  • Clause 40 - Treatment of deductions from payments to sub-contractors (0 speeches)
    Question proposed, That the clause stand part of the Bill. Debate adjourned.—[Mr. Sutcliffe.] Adjourned accordingly at eighteen minutes to Six o'clock till Tuesday 21 May at half-past...
• Finance Bill, 5th sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • (Except clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and schedules 1, 5 and 38) - Clause 40 - Treatment of deductions from payments to sub-contractors (3 speeches)
    Question proposed [16 May], That the clause stand part of the Bill. Question again proposed.
  • Clause 41 - Reallocation within group of gain or (6 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 43 - Exemptions for disposals by companies (2 speeches)
    As is evident, most of the points that we wish to raise are covered in amendments to schedule 8. The clause seeks to achieve something on which there has been extensive consultation with business...
  • Schedule 8 - Insurance and mutual trading companies (55 speeches)
    I beg to move amendment No. 82, in page 151, line 37, leave out paragraph 5. I, too, welcome you to the Chair, Mr. Benton. I also welcome the thrust of clause 43 and schedule 8, as did the hon....
  • Clause 44 - Share exchanges and company reconstructions (2 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Schedule 9 - Chargeable gains: share exchanges (7 speeches)
    I beg to move amendment No. 71, in page 173, line 31, after 'capital', insert ', preference share capital or debentures'.
  • Clause 45 - Taper relief: holding period for business assets (23 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Schedule 10 - Chargeable gains: (8 speeches)
    I beg to move amendment No. 30, in page 179, line 30, at end insert— 'Conditions for shares to qualify as business assets 1A (1) Paragraph 4 (conditions for shares to qualify as business...
• Finance Bill, 6th sitting (0 speeches)
  [Mr. Roger Gale in the Chair]
  • Schedule 10 - Chargeable gains: taper relief: minor amendments (6 speeches)
    Amendment proposed [this day]: No. 30, in page 179, line 30, at end insert— 'Conditions for shares to qualify as business assets 1A (1) Paragraph 4 (conditions for shares to qualify as...
  • Clause 47 - Use of trading losses against chargeable gains (9 speeches)
    I beg to move amendment No. 12, in page 32, line 19, leave out from 'relief)' to end of line 21 and insert— 'for ''disregarding section 3(1) of the Taxation of Chargeable Gains Act 1992 and...
  • Clause 48 - Election to forego roll-over relief on transfer of business (10 speeches)
    I beg to move amendment No. 65, in page 33, line 11, after 'apply', insert 'to the full gain arising on the incorporation of the business or a proportion thereof as specified in the election'....
  • Clause 49 - Shares acquired on same day: election for alternative treatment (10 speeches)
    I beg to move amendment No. 22, in page 34, line 15, leave out 'on same day' and insert 'by employees'.
  • Clause 50 - Deduction of personal losses from gains treated as accruing to settlors (9 speeches)
    I beg to move amendment No. 52, in page 37, line 15, leave out 'has' and insert 'and Schedule (set off of losses treated as accruing to settlors) to this Act have'.
  • Clause 52 - Tax relief for expenditure on research and development (13 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Schedule 12 - Tax relief for expenditure on research and development (32 speeches)
    I beg to move amendment No. 25, in page 189, line 9, after 'enterprise', insert— 'or a small or medium-sized enterprise which makes an election pursuant to paragraph 16A below'.
• Finance Bill, 7th sitting (0 speeches)
  • Mr. Roger Gale (1 speech)
    (Except clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and schedules 1, 5 and 38)
  • Clause 53 - Tax relief for expenditure on vaccine research etc (9 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Schedule 13 - Tax relief for expenditure on vaccine research etc (7 speeches)
    I beg to move amendment No. 5, in page 207, leave out lines 18 to 20 and insert— '(1) This Schedule applies to expenditure incurred on or after 1st April 2002.'.
  • Clause 54 - Gifts of medical supplies and equipment (14 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 56 - Community investment tax relief (6 speeches)
    I beg to move amendment No. 28, in 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)...
  • Schedule 16 - Community investment tax rlief (20 speeches)
    Question proposed, That this schedule be the Sixteenth schedule to the Bill.
  • Clause 57 - Relief for community amateur sports clubs (6 speeches)
    Question proposed, That the clause stand part of the Bill.
• Finance Bill, 8th sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • Schedule 18 - Relief for community amateur sports clubs (19 speeches)
    I beg to move amendment No. 69, in page 238, line 37, at end insert 'and may include a club which is incorporated'.
  • Schedule 19 - Capital allowances: cars with low carbon dioxide emissions (24 speeches)
    I beg to move amendment No. 18, in 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...
  • Clause 61 - Expenditure on green technologies: leasing (14 speeches)
    I beg to move amendment No. 17, in 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.'. Again,...
  • Clause 62 - First-year allowances for expenditure wholly for a ring fence trade (42 speeches)
    I beg to move amendment No. 99, in page 40, line 21, after 'first-year', insert 'and writing-down'.
• Finance Bill, 9th sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • Clause 62 - First year allowances for expenditure wholly for a fence trade (32 speeches)
    Amendment proposed [this day]: No. 99, in page 40, line 21, after 'first-year', insert 'and writing-down'.—[Mr. Chope.] Question again proposed, That the amendment be made.
  • Schedule 21 - First-year allowances for expenditure wholly for a ring fence trade (11 speeches)
    Amendments made: No. 94, in page 251, line 4, leave out 'within the relevant period'. No. 95, in page 251, line 6, leave out 'not' and insert 'at no time in the relevant period'. No. 96, in...
  • Clause 64 - Postponement of change to mark-to-market in certain cases (3 speeches)
    I beg to move amendment No. 112, page 41, line 43, leave out '2002' and insert '2003'. The amendment is probing and asks whether the Government are satisfied from their discussion with the...
  • Clause 101 - References to accounting practice and periods of account (7 speeches)
    I beg to move amendment No. 179, in page 78, line 45, at end insert 'and'.
  • Clause 67 - Expenditure involving crime (12 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 68 - Qualifying contracts for unallowable purposes (6 speeches)
    I beg to move amendment No. 114, in page 45, line 41, at end insert— '(8A) A qualifying contract shall not be regarded as having an unallowable purpose in regard to a company where, on the...
  • Clause 69 - Forward premiums and discounts under currency contracts (11 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Schedule 23 - Exchange gains and losses from loan relationships etc (0 speeches)
    Amendments made: No. 157, in page 264, line 34, after 'business' insert 'and falls within subsection (4) below'. No. 158, in page 265, line 1, after '(3)(a)' insert 'or (c)'. No. 159, in page...
  • Schedule 25 - Loan relationships (0 speeches)
    Amendments made: No. 127, in page 286, line 7, leave out sub-paragraph (4). No. 128, in page 289, line 14, at end insert 'and the shares are not, within the meaning of Chapter 1 of Part 12 of...
• Finance Bill, 10th sitting (0 speeches)
  • Mr. Roger Gale (0 speeches)
  • (Except clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and schedules 1, 5 and 38) (1 speech)
    Good morning, ladies and gentlemen. I am pleased to see that you have made rapid progress during my absence.Schedule 26 Derivative contracts
  • Schedule 26 - Derivative contracts (5 speeches)
    I beg to move amendment No. 119, in page 324, line 31, at end insert— '(3) Nothing in this Schedule shall cause or require the recognition of income chargeable to tax by reason of any...
  • Clause 102 - Discounted securities etc (6 speeches)
    I beg to move amendment No. 167, in page 80, line 15, at end insert 'or for the transfer of the whole or part of a business or interest in a business carried on by him or by him and others in...
  • Schedule 29 - Gains and losses of a company from intangible fixed assets (39 speeches)
    I beg to move amendment No. 182, in page 373, line 33, at end insert 'except for those assets that are subject to Part 4, paragraph 26 (Realisation of a pre-commencement asset).'.
  • Schedule 30 - Gains and losses of a company from intangible fixed assets: consequential amendments (0 speeches)
    Amendment made: No. 214, in page 442, line 26, leave out 'royalties in respect of'.—[John Healey.] Schedule 30, as amended, agreed to.
  • Clause 104 - Valuation of trading stock on transfer of trade (3 speeches)
    I beg to move amendment No. 185, in page 81, line 29, after 'assets', insert 'to a connected person'. The amendment has been suggested to us by the Institute of Chartered Accountants because it...
  • Schedule 31 - Gains of insurance company from venture capital investment partnership (0 speeches)
    Amendments made: No. 215, in page 447, line 32, leave out to end of line 19 on page 448 and insert— 'Meaning of ''venture capital investment partnership'' 2 (1) A ''venture capital...
  • Schedule 32 - Lloyd's underwriters (7 speeches)
    I beg to move amendment No. 105, in page 453, line 3, after 'effect', insert 'in the corresponding underwriting year'. The Chairman: With this we may discuss the following amendments: Government...
  • Clause 86 - Life policies etc: chargeable events (5 speeches)
    I beg to move amendment No. 187, in page 60, line 35, at end insert— '(1A) Section 539 (introductory) is amended as follows. (1B) In subsection (1) (scope of Chapter II of Part XIII of...
• Finance Bill, 11th sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • (Except clauses 4, 19, 23, 26 to 29, 87 to 92, - 131 and 134 and schedules 1, 5 and 38) - Clause 86 - Life policies etc: chargeable events (18 speeches)
    Amendment proposed [this day]: No. 187, in page 60, line 35, at end insert— '(1A) Section 539 (introductory) is amended as follows. (1B) In subsection (1) (scope of Chapter II of Part...
  • Clause 93 - Deduction of tax: (5 speeches)
    I beg to move amendment No. 188 in page 70, line 9, leave out '1st October 2002' and insert 'the day on which this Act is passed.'.
  • Clause 95 - Cross-border royalties (9 speeches)
    I beg to move amendment No. 55, in page 70, line 40, leave out 'of a royalty'.
  • Clause 96 - Gifts of real property to charity (59 speeches)
    I beg to move amendment No. 90, in page 72, line 17, leave out 'and'.
  • Clause 97 - Gift aid: election to be treated as if (25 speeches)
    I beg to move amendment No. 193, in page 74, leave out lines 27 to 32 and insert— '(2) Any such election must be made by notice in writing to an officer of the Inland Revenue on or before...
• Finance Bill, 12th sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • (Except clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and schedules 1, 5 and 38) - Clause 98 - Films: restriction of relief to films genuinely intended for theatrical release (39 speeches)
    I beg to move amendment No. 86, in page 75, line 3, after 'release', insert 'or constitutes long-form drama'.
  • Clause 100 - Distributions: reasonable commercial return for use of principal secured (3 speeches)
    I beg to move amendment No. 236, in page 76, line 18, at end insert— '(1A) In subsection (2)(e)(iii) of section 209 of the Taxes Act 1988 (meaning of ''distribution'') after the word...
  • Schedule 33 - Venture capital trusts (7 speeches)
    I beg to move amendment No. 233, in page 459, line 29, after ''company'', insert— ''(irrespective of whether some or all of those shares are retained or cancelled)''.
  • Clause 108 - Land in disadvantaged areas (37 speeches)
    I beg to move amendment No. 168, in page 85, line 6, after 'dwelling', insert— 'without significant expenditure being incurred on it'. I wish to make a number of points, most of which I...
• Finance Bill, 13th sitting (0 speeches)
  [Mr. Roger Gale in the Chair]
  • (Except clauses 14, 19, 23, 26 to 29, 87 to 92, 131 and 134 and schedules 1, 5 and 38) - Clause 108 - Land in disadvantaged areas (3 speeches)
    Question proposed [this day]: That the clause stand part of the Bill. Question again proposed.
  • Clause 109 - Withdrawal of group relief (11 speeches)
    I beg to move amendment No. 224, in page 87, line 42, at end insert— '(9A) This section shall not apply unless the main purpose or one of the main purposes of the execution of the relevant...
  • Schedule 34 - Stamp duty: withdrawal of group relief: supplementary provisions (11 speeches)
    I beg to move amendment No. 238, in page 462, line 22, at end insert— 'Relief not withdrawn in case of winding-up 2A (1) Section 109 does not apply if the transferee company ceases to be...
  • Clause 111 - Withdrawal of relief for company acquisitions (3 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Schedule 35 - Stamp duty: withdrawal of relief for company acquisitions: supplementary provisions (1 speech)
    I beg to move Government amendment No. 243, in page 467, line 20, at end insert— 'Change of control due to interest of loan creditor 4A (1) Section 111 does not apply by reason of control...
  • Clause 112 - Penalties for late stamping (9 speeches)
    I beg to move amendment No. 171, in page 90, line 12, leave out subsection (3). As members of the Committee will be aware, at present it is possible to avoid stamp duty if the documents involved...
  • Clause 113 - Contracts for the sale of an estate or interest in land chargeable as conveyances (12 speeches)
    I beg to move amendment No. 118, in page 90, line 21, leave out subsection (1) and insert— '(1) This section applies to a contract or agreement for the sale of an estate or interest in land...
  • Clause 114 - Abolition of duty on instruments relating to goodwill (3 speeches)
    I beg to move amendment No. 173, in page 91, line 33, at end insert— ''or ordinary trade debts as defined in paragraph 35(5) of Schedule 16''. What we have learnt is that goodwill is good...
  • Clause 115 - IHT: rate bands (39 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 116 - IHT: powers over, or exercisable in relation to, settled property or a settlement (7 speeches)
    Question proposed, That the clause stand part of the Bill.
• Finance Bill, 14th sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • (Except clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134, and schedules 1, 5 and 38) (7 speeches)
    On a point of order, Mr. Benton. For the record, I wish to draw the Committee's attention to a letter that I circulated to Committee members yesterday, clarifying a statistical point that arose...
  • Clause 118 - Air passenger duty: extension of area (4 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 119 - Landfill tax: rate (18 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 120 - Climate change levy: electricity produced (3 speeches)
    I beg to move amendment No. 237, in page 98, line 19, leave out from 'after', to end of line 20 and add '1st April 2002, although the reduced rate may not be applied in practice until the section...
  • Clause 122 - Climate change levy: exemption (2 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 123 - Climate change levy: electricity produced (4 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 124 - Climate change levy: incorrect certificates (1 speech)
    Question proposed, That the clause stand part of the Bill.
  • Clause 125 - Climate change levy: invoices (2 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 126 - Aggregates levy: transitional relief (5 speeches)
    I beg to move amendment No. 257, in page 100, line 21, leave out 'in Northern Ireland'.
• Finance Bill, 15th sitting (0 speeches)
  [Mr. Joe Benton in the Chair]
  • (Except clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and schedules 1, 5 and 38) - Clause 126 - Aggregates levy: transitional relief for Northern Ireland (4 speeches)
    Amendment proposed [20 June]: No. 257, in page 100, line 21, to leave out the words 'in Northern Ireland'.—[Mr. Chope.] Question again proposed, That the amendment be made.
  • Clause 127 - Aggregates levy: amendments to provisions exempting spoil etc (13 speeches)
    I beg to move amendment No. 255, in page 101, line 6, at end insert— '(1) In section 17(1) of the Finance Act 2001 (c. 9) (aggregate that is exempt), at end insert ''except water''.'.
  • Clause 129 - Aggregates levy: miscellaneous amendments (28 speeches)
    Question proposed, That the clause stand part of the Bill.
  • Clause 132 - Mandatory e-filing (51 speeches)
    I beg to move amendment No. 227, in page 104, line 7, leave out 'requiring' and insert 'permitting'.
• Finance Bill, 16th sitting (0 speeches)
  [Mr. Roger Gale in the Chair]
  • (Except clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and schedules 1, 5 and 38) - Clause 132 - Mandatory e-filing (64 speeches)
    Amendment proposed [this day]: No. 227, in page 104, line 7, leave out 'requiring' and insert 'permitting'.—[Mr. Bercow.] Question again proposed, That the amendment be made.
  • New Clause 21 - Parliamentary visits to eu candidate countries: tax treatment of members' expenses (4 speeches)
    '(1) This section amends— (a) section 200 of the Taxes Act 1988 (which treats allowances paid to a Member of Parliament in respect of, among other things, expenses of visiting the national...
  • New Clause 6 - Arrangements with respect to payment of corporation tax (3 speeches)
    '.—(1) After subsection (2)(d) of section 36 of the Finance Act 1998, insert— ''(da) may make provision for members of the group of companies to elect to base this corporation tax...
  • New clause 17 - Stamp duty and OFEX (3 speeches)
    '.—In each of the following provisions— (a) subsections (1)(a), (2)(a) and (3)(a) of section 80A Finance Act 1986 (changes in financial institutions), (b) subsection (3)(a of section...
  • New Clause 24 - Living accommodation provided for employee (5 speeches)
    '.—(1) Section 145 of the Income and Corporation Taxes Act 1988 (c. 1) is amended as follows. (2) In subsection (4) insert— ''(d) where employees working in a designated public...
  • New Clause 29 - Life insurance: rate of tax on insurance company chargeable gains and treated as paid on policy gains (No. 2) (6 speeches)
    '.—(1) In subsection (3) of section 88A of the Finance Act 1989 (lower corporation tax rate on certain insurance company profits), after ''as consists of income'', insert ''or gains''. (2)...
  • New Clause 30 - Principal private residence exempt from IHT (5 speeches)
    '. After section 6(3) of the Inheritance Taxes Act 1984 (c. 51) insert— ''(3A) A person's principal private residence is excluded property.''.'.—[Mr. Hoban.] Brought up, and read the...
  • New Clause 32 - Costs of residential care (No. 2) (5 speeches)
    ''.—(1) The income for a year of assessment of an individual who in that year— (a) is in need of residential care, (b) receives such care, and (c) pays for it himself, shall, subject...
  • New Clause 33 - IHT and executors (2 speeches)
    ''. In subsection (2) of section 226 of the Inheritance Tax Act 1984, at end add— 'Personal representatives may pay the tax out of the estate remaining after death before probate has been...
  • Schedule 39 - Repeals (4 speeches)
    Amendments made: No. 222, in page 479, line 2, leave out paragraph (c) and insert— '(c) subsection (8).'. No. 223, in page 481, line 6, at end insert— '( ) Computation of profits...