Schedule 3
Finance Bill
12:00 pm
Eric Illsley (Barnsley Central, Labour)
I remind the Committee that with this we are discussing the following: No. 39, in schedule 3, page 90, line 19, after ‘services’, insert ‘for that year of assessment’.
No. 40, in schedule 3, page 90, line 21, leave out from ‘person’ to ‘the’ in line 22 and insert
‘whose sole or main business is the provision and facilitation of’.
No. 41, in schedule 3, page 90, line 23, leave out ‘involved with the company’ and insert
‘regularly involved with all or most aspects of running the company on an ongoing basis’.
No. 42, in schedule 3, page 90, line 24, at end insert—
‘(1A) In considering whether a company is a managed service company within the meaning of subsection (1), no regard shall be had to any other companies with which the MSC provider is involved’.
No. 43, in schedule 3, page 90, line 35, leave out ‘subsection’ and insert ‘subsections’.
No. 44, in schedule 3, page 90, line 35, after ‘(1)(d)’, insert ‘or (2)’.
No. 45, in schedule 3, page 90, line 36, leave out from ‘providing’ to end of line and insert
‘services of a nature provided by advisers in a professional capacity, including legal, accounting and company secretarial advice.’.
No. 46, in schedule 3, page 90, line 36, at end insert—
‘(3A) For the purposes of subsection 3, accounting advice includes, but is not limited to, advice and assistance concerning:
(a) preparation or provision of records, returns, financial statements, reports or financial information concerning accounting;
(b) auditing, insolvency or taxation matters;
(c) communication and representations made on behalfof a client to third parties in matters concerning accounting, auditing, insolvency or taxation.
(3B) The Treasury may by order provide for a non-exhaustive list of professional services which fall within the meaning of subsection (3) and (3A) above.
(3C) The Treasury may not make an order under subsection (3B) unless a draft of it has been laid before and approved by a resolution of the House of Commons.’.
Government amendment No. 97
No. 47, in schedule 3, page 91, line 2, at end insert—
‘(3A) An MSC provider may be a partner in a partnership (other than the individual referred to in section 61B(1)(a)) and may, for the purposes of section 61B(1)(d), carry on, through the partnership, the business of promoting or facilitating the partnership to provide the services of individuals.’.
No. 48, in schedule 3, page 92, line 2, leave out ‘mentioned in section 61D(1)(b)’ and insert
‘which satisfies both section 61D(1)(b) and section 61D(1)(c).’.