Finance Bill: Public Bill Committee 14, 19 and 21 June

The Public Bill Committee met on 14, 19 and 21 June.

The committee will meet again tomorrow, 26 June, and the House of Commons Report stage of the Bill has been scheduled for 2 and 3 July.

14 June

The committee agreed amendments to:

• Clause 46 (Plant and machinery: long funding leases)
• Sch 6 (Seed enterprise investment scheme)
• Sch 7 (Enterprise investment scheme)
• Sch 8 (Venture capital trusts)
• Sch 13 (Employer asset-backed pension contributions etc)

The following clauses and schedules were agreed without amendment:

• Clause 33 (Company distributions)
• Clause 34 (Capital gains: Annual exempt amount)
• Clause 35 (Foreign currency bank accounts)
• Clause 36 (Collective investment schemes: chargeable gains)
• Clause 37 (Roll-over relief)
• Clause 38 (Seed enterprise investment scheme) 
• Clause 39 (Enterprise investment scheme) 
• Clause 40 (Venture capital trusts) 
• Clause 41 (Plant and machinery: restricting exception for manufacturers and suppliers) 
• Clause 42 and Sch 9 (Plant and machinery allowances: anti-avoidance) 
• Clause 43 and Sch 10 (Plant and machinery allowances: fixtures) 
• Clause 44 and Sch 11 (Expenditure on plant and machinery for use in designated assisted areas) 
• Clause 45 (Allowances for energy-saving plant and machinery) 
• Clause 47 and Sch 12 (Foreign income and gains) 
• Clause 48 (Employer asset-backed pension contributions etc) 
• Clause 49 and Sch 14 (Gifts to the nation)
• Clause 50 (Gift aid: giving through self-assessment return)
• Clause 51 and Sch 15 (Relief for gift aid and other income of charities etc)
• Clause 52 (Meaning of ‘community amateur sports club’)
• Clause 53 (Site restoration payments)
• Clause 54 (Changes of accounting policy)

19 June

The committee agreed amendments to:

• Clauses 126, 129 and 130 (Insurance companies carrying on long-term business)
• Sch 16 (Part 2: minor and consequential amendments)
• Sch 17 (Part 2: transitional provision)
• Sch 20 (Controlled foreign companies and foreign permanents)

The following clauses and schedules were agreed without amendment:

• Clauses 55 to 125, 127 and 128, and 131 to 149 (Insurance companies carrying on long-term business)
• Clauses 150 to 179, and Schs 18 and 19 (Friendly societies carrying on long-term business)
• Clauses 180 to 184 (Controlled foreign companies and foreign permanent establishments)
• Clauses 185 to 188 and 190 to 194, and Schs 21, 22, 24 and 25  (Excise duties)

21 June

The following clauses and schedules were agreed without amendment:

• Clauses 195 to 205, and Schs 26 to 31 (VAT, Landfill tax and Climate change levy).