Finance Bill — House of Commons, 2017-10-31
Topic: Macroeconomics
Lindsay Harvey Hoyle (Labour, Centre-left): With this it will be convenient to discuss the following: Amendment 8, page 78, line 20, at end insert— "(4A) No regulations may be made under subsection (4) until 90 days after the Chancellor of the Exchequer has laid a report before the House of Commons which sets out— (a) the steps which HMRC has undertaken to establish that suitable software is available; (b) the results of the testing by HMRC and others of that software, and (c) the reasons why mandatory use of the software is in the interest of HMRC and taxpayers." This amendment would require the Chancellor of the Exchequer to report on software suitability and testing before giving effect to the provisions of Clause 60. Amendment 9, in clause 61, page 78, line 34, after "day" insert "no earlier than 1 January 2022" This amendment provides that the provisions for digital reporting in Schedule 14 and Clause 61 may not be brought into force before 2022. Amendment 10, in clause 62, page 79, line 12, at end insert— "(5A) No regulations may be made under sub-paragraph (5) on a day prior to 1 January 2022." This amendment provides that the provisions for digital reporting in Clause 62 may not be brought into force before 2022. Amendment 11, page 79, line 19, at end insert— "(6A) Regulations under sub-paragraph (5) may not impose mandatory requirements for businesses to generate quarterly updates." This amendment provides that any system for quarterly updates to be generated must not be mandatory. New clause 2—Taxation of chargeable gains: review of treatment of commercial property held by persons with foreign domicile— "(1) The Taxation of Chargeable Gains Act 1992 is amended as follows (2) After section 14 (non-resident groups of companies), insert— "Review of treatment of commercial property held by persons with foreign domicile (1) Within three months of the passing of the Finance (No. 2) Act 2017, the Commissioners for Her Majesty’s Revenue and Customs shall complete a review about the taxation of chargeable gains held by persons with foreign domicile. (2) The review shall consider in particular the implications if the treatment of commercial property were to be the same as the treatment of residential property under section 4BB(2) (3) The Chancellor of the Exchequer shall lay a report of the review under this section before the House of Commons within three months of its completion."" This new clause requires a review to be undertaken of the treatment of capital gains on commercial property disposed of by UK taxpayers with a foreign domicile. New clause 3—Income provided through third parties: review of effects generally and in relation to sports image rights— "(1) The Chancellor of the Exchequer shall, no later than 21 July 2019, undertake a review of the effects of the changes made in relation to income provided through third parties (2) The review under subsection (1) shall consider in particular the effects in relation to sports image rights (3) The Chancellor of the Exchequer shall lay before the House of Commons a report of the review under this section no later than 15 October 2019 (4) In this section— "the changes made in relation to income provided through third parties" means the provisions of sections 34 and 35 of and Schedule 11 to this Act, "sports image rights" means the rights or purported rights, whether or not protected or capable of protection under any relevant laws, associated with the identity or activities of a person where those rights or purported rights are associated with their participation or former participation in a sport." This new clause requires the Chancellor of the Exchequer to carry out and publish a review of the effects of provisions for disguised remuneration in relation to income provided through third parties, including particularly the effects in relation to sports image rights. New clause 4—Impact analyses of provisions of this Act— "(1) The Chancellor of the Exchequer must review the impact of the provisions of this Act in accordance with this section and lay a report of that review before the House of Commons within six months of the passing of this Act (2) A review under this section must consider— (a) the impact of those provisions on households at different levels of income, (b) the impact of those provisions on people with protected characteristics (within the meaning of the Equality Act 2010), and (c) the impact of those provisions on different parts of the United Kingdom and different regions of England (3) In this section— "parts of the United Kingdom" means— (a) England, (b) Scotland, (c) Wales, and (d) Northern Ireland; "regions of England" has the same meaning as that used by the Office for National Statistics." This new clause requires the Chancellor of the Exchequer to carry out and publish a review of the effects of the provisions of the Bill on households with different levels of income, people with protected characteristics and on a regional basis. New clause 5—Review of the conditions of registration for third country goods fulfilment businesses and traders using their services— "(1) Within six months of the passing of this Act, the Chancellor of the Exchequer shall complete a review of the conditions of registration for third country goods fulfilment businesses and the traders using their services. (2) The review shall consider in particular— (a) an automatic joint and several liability for VAT between registered fulfilment businesses and the traders using their services, and (b) a requirement that registered fulfilment businesses should charge VAT to customers on behalf of traders using their services (3) The Chancellor of the Exchequer shall lay a report of the review under this section before the House of Commons within one month of its completion." This new clause requires a review to be undertaken of the conditions of registration for third country goods fulfilment businesses and the traders using their services. Government amendments 12 to 16.