New Clause 24 - Review of impact of 2% non-resident surcharge

Finance Bill – in the House of Commons at 9:45 pm on 24 May 2021.

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Votes in this debate

  • Division number 9
    A majority of MPs voted not to require an annual report on the impact of an extra 2% stamp duty tax on land purchases by those not resident in the United Kingdom, and on the potential role of a register of overseas entities that own UK property.

‘(1) The Chancellor of the Exchequer must review the impact of section 88 and schedule 16 of this Act on tax revenues, residential property prices, affordability of residential property, and the volume of property purchases by non-residents, and lay a report of that review before the House of Commons within six months of the passing of this Act and once a year thereafter.

(2) The review under this section must include an assessment of what those impacts would have been if the provisions in the Draft Registration of Overseas Entities Bill had been in force.’—(Abena Oppong-Asare.)

Brought up, and read the First time.

Question put, That the clause be read a Second time.

Division number 9 Finance Bill — New Clause 24 — Review of Impact of 2% Non-Resident Surcharge

A majority of MPs voted not to require an annual report on the impact of an extra 2% stamp duty tax on land purchases by those not resident in the United Kingdom, and on the potential role of a register of overseas entities that own UK property.

Aye: 217 MPs

No: 357 MPs

Aye: A-Z by last name

Tellers

No: A-Z by last name

Tellers

Absent: 69 MPs

Abstained: 1 MP

Absent: A-Z by last name

Abstained: A-Z by last name

The House divided: Ayes 218, Noes 358.

Question accordingly negatived.

The list of Members currently certified as eligible for a proxy vote, and of the Members nominated as their proxy, is published at the end of today’s debates.