Finance Bill 2019: public Bill committee progress

On 29 November and 4 December, the public bill committee (PBC) agreed a further group of clauses without amendment.

On 29 November (third and fourth sittings), the PBC agreed the following:

• cl 14 and Sch 2 (disposals of UK land etc: payments on account of capital gains tax);
• cl 17 and Sch 5 (non-UK resident companies carrying on UK property businesses etc);
• cl 18 and Sch 6 (diverted profits tax);
• cl 21 (permanent establishments: preparatory or auxiliary activities);
• cl 24 (group relief etc: meaning of ‘UK related’ company);
• cl 25 (intangible fixed assets: exceptions to degrouping charges etc);
• cl 26 and Sch 9 (corporation tax relief for carried-forward losses);
• cl 27 and Sch 10 (corporate interest restriction);
• cl 28 and Sch 11 (debtor relationships of company where money lent to connected companies);
• cl 29 (construction expenditure on buildings and structures);
• cl 30 (special rate expenditure on plant and machinery); and
• cl 31 and Sch 12 (temporary increase in annual investment allowance).

On 4 December (fifth and sixth sittings), the PBC agreed the following:

• cl 32 (first-year allowances and first-year tax credits);
• cl 33 (first-year allowance: expenditure on electric vehicle charge points);
• cl 34 (qualifying expenditure: buildings, structures and land);
• cl 35 and Sch 13 (leases: changes to accounting standards etc);
• cl 36 and Sch 14 (oil activities: transferable tax history);
• cl 37 (petroleum revenue tax: post-transfer decommissioning expenditure);
• cl 43 (SDLT: higher rates of tax for additional dwellings etc);
• cl 44 (SDLT: exemption for financial institutions in resolution);
• cl 45 (SDLT: changes to periods for delivering returns and paying tax);
• cl 48 (stamp duty: exemption for financial institutions in resolution);
• cl 49 (stamp duty and SDRT: exemptions for share incentive plans);
• cl 50 (VAT: duty of customers to account for tax on supplies);
• cl 51 and Sch 16 (VAT treatment of vouchers);
• cl 52 and Sch 17 (VAT groups: eligibility);
• cl 53 (rates of duty on cider, wine and made-wine);
• cl 54 (excise duty on mid-strength cider); and
• cl 55 (tobacco: rates)

The PBC will sit next on Thursday 6 December.