Clause 18 - Tax
Horserace Betting and Olympic Lottery Bill
11:00 am

Mr Richard Caborn (Minister of State (Sport and Tourism), Department for Culture, Media & Sport; Sheffield Central, Labour)

I beg to move amendment No. 43, in

clause 18, page 11, line 38, after 'providing', insert '—

(a)'.

Mr Eric Illsley (Barnsley Central, Labour)

With this it will be convenient to discuss Government amendments Nos. 44, 45 and 46.

Mr Richard Caborn (Minister of State (Sport and Tourism), Department for Culture, Media & Sport; Sheffield Central, Labour)

It has always been the Government's intention to waive any tax windfall that arises from the transfer of the levy board's assets. We also want to ensure that the levy board and any recipient would not face a tax disadvantage as a consequence of the transfer. The assets have to be used for specified purposes that benefit racing, and they will continue to be used in that way after the transfer.

The amendments, which add a reference in the clause to stamp duty land tax and elaborate the clause in other ways, will allow Treasury regulations to be made so that the transfer can take place without any unintended tax consequences.

Amendment agreed to.

Amendments made: No. 44, in

clause 18, page 11, line 40, at end insert—

'(b) for anything done under or in consequence of a transfer scheme to have or not have a specified consequence, or to be treated in a specified way, for the purposes of a tax provision;

(c) for anything done in connection with, or done by a person with rights in connection with, anything that was at any time transferred under a transfer scheme, to have or not have a specified consequence, or to be treated in a specified way, for the purposes of a tax provision;

(d) for a tax provision not to apply, or to apply with modifications, in respect of anything transferred under a transfer scheme;

(e) for anything transferred under a transfer scheme to be treated in a specified way for the purposes of a tax provision;

(f) for the withdrawal of relief (whether or not granted by virtue of the regulations), and the charging of tax, in connection with anything done under or in consequence of a transfer scheme where a specified event occurs, or specified conditions are satisfied, whether on or after the commencement of the scheme;

(g) for a power under this Part, or anything done in exercise of a power under this Part, to have or not have a specified consequence, or to be treated in a specified way, for the purposes of a tax provision.'.

No. 45, in

clause 18, page 11, line 42, leave out 'or'.

No. 46, in

clause 18, page 11, line 43, at end insert

'or stamp duty reserve tax'.—[Mr. Caborn.]

Clause 18, as amended, ordered to stand part of the Bill.

Clauses 19 and 20 ordered to stand part of the Bill.

Further consideration adjourned.—[Mr. Kemp.]

Adjourned accordingly at eight minutes past Eleven o'clock till this day at half-past Two o'clock.