(Except Clauses 7, 8, 9, 11, 14, 16, 20 and 92) - Schedule 35

Part of Finance Bill – in a Public Bill Committee at 1:00 pm on 18th June 2009.

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Photo of Peter Atkinson Peter Atkinson Conservative, Hexham 1:00 pm, 18th June 2009

With this it will be convenient to discuss the following: amendment 182, in schedule 35, page 283, line 40, after ‘paid’, insert

‘under this sub-paragraph or under sub-paragraph (3A)’.

Amendment 190, in schedule 35, page 284, line 3, leave out ‘a quarterly’ and insert ‘an annual’.

Amendment 183, in schedule 35, page 284, line 11, at end insert—

‘(3A) To the extent such amount exceeds that referred to in paragraph 8(3), relevant added years contributions also include contributions paid—

(a) with a view to securing that the calculation of benefits under the arrangement is by reference to a period of service in excess of pensionable service by the individual; and

(b) which do not exceed the average amount of contributions made by the individual in each of the three tax years ending 5 April 2009 (or if the individual has not been a member of the pension scheme for those tax years, the contributions made, in a case where he has been a member for only one complete tax year, during that tax year, and the average contributions, if he has been a member of this scheme for two complete tax years, for those two tax years) or if provided that if in any of those years the contribution exceeded the amount of the annual allowance for that tax year (see section 228 of FA 2004) such contribution shall be taken to be an amount equal to the annual allowance for that tax year.’.

Amendment 184, in schedule 35, page 284, line 41, after ‘paid’, insert

‘under this sub-paragraph or under sub-paragraph (3A)’.

Amendment 191, in schedule 35, page 284, line 46, leave out ‘a quarterly’ and insert ‘an annual’.

Amendment 185, in schedule 35, page 285, line 6, at end insert—

‘(3A) To the extent such amount exceeds that referred to in paragraph 9(3), relevant added years contributions also include contributions paid—

(a) with a view to securing that the calculation of benefits under the arrangement is by reference to a period of service in excess of pensionable service by the individual; and

(b) which do not exceed the average amount of contributions made by the individual in each of the three tax years ending 5 April 2009 (or if the individual has not been a member of the pension scheme for those tax years, the contributions made, in a case where he has been a member for only one  complete tax year, during that tax year, and the average contributions, if he has been a member of this scheme for two complete tax years, for those two tax years) or if provided that if in any of those years the contribution exceeded the amount of the annual allowance for that tax year (see section 228 of FA 2004) such contribution shall be taken to be an amount equal to the annual allowance for that tax year.’.

Amendment 186, in schedule 35, page 285, line 39, after ‘paid’, insert

‘under this sub-paragraph or under sub-paragraph (3A)’.

Amendment 192, in schedule 35, page 285, line 44, leave out ‘a quarterly’ and insert ‘an annual’.

Amendment 187, in schedule 35, page 286, line 4, at end insert—

‘(3A) To the extent such amount exceeds that referred to in paragraph 10(3) or 10(5), relevant added years contributions also include contributions paid—

(a) with a view to securing that the calculation of benefits under the arrangement is by reference to a period of service in excess of pensionable service by the individual; and

(b) which do not exceed the average amount of contributions made by the individual in each of the three tax years ending 5 April 2009 (or if the individual has not been a member of the pension scheme for those tax years, the contributions made, in a case where he has been a member for only one complete tax year, during that tax year, and the average contributions, if he has been a member of this scheme for two complete tax years, for those two tax years) or if provided that if in any of those years the contribution exceeded the amount of the annual allowance for that tax year (see section 228 of FA 2004) such contribution shall be taken to be an amount equal to the annual allowance for that tax year.’.

Amendment 193, in schedule 35, page 286, line 13, leave out ‘a quarterly’ and insert ‘an annual’.

Amendment 194, in schedule 35, page 286, line 37, leave out ‘a quarterly’ and insert ‘an annual’.

Amendment 188, in schedule 35, page 286, line 42, at end insert—

‘(2A) To the extent such amount exceeds that referred to in paragraph 11(2) the amount arrived at under paragraph 3(2) in relation to the arrangement is a protected pension input amount to the extent that it is attributable to contributions paid which do not exceed the average amount of contributions made by the individual in each of the three tax years ending 5 April 2009 (or if the individual has not been a member of the pension scheme for those tax years, the contributions made, in a case where he has been a member for only one complete tax year, during that tax year, and the average contributions, if he has been a member of this scheme for two complete tax years, for those two tax years) provided that if in any of those years the contribution exceeded the amount of the annual allowance for that tax year (see section 228 of FA 2004) such contribution shall be taken to be an amount equal to the annual allowance for that year.’.

Amendment 195, in schedule 35, page 289, line 20, leave out ‘a quarterly’ and insert ‘an annual’.

Amendment 197, in schedule 35, page 290, line 3, leave out from ‘contributions’ to end of line and insert ‘which—

(a) are paid on a quarterly or more frequent basis pursuant to an agreement for the payment of such contributions, or

(b) if paid less frequently than quarterly, half of the sum of the two highest contributions made in the periods 6 April to 21 April in each of the tax years 2006-07,  200-08 and 2008-09 and for these purposes if only one such contribution has been made in those three periods, half of that amount.’.

Amendment 196, in schedule 35, page 290, line 3, leave out ‘a quarterly’ and insert ‘an annual’.