§ Lords amendment: No. 55, in page 76, line 19, at end insert—
§ ("( ) In paragraph 8(1)(ia) of that Schedule (power to provide by regulations for repayment in prescribed cases of the whole or a part of a Class 1B contribution), after "part" there shall be inserted "of a Class 1 A or".")
§ Mr. RookerI beg to move, That this House agrees with the Lords in the said amendment.
§ Mr. Deputy SpeakerWith this we may discuss Lords amendments Nos. 56 to 58, 61 and 80 to 83.
§ Mr. RookerWe are dealing with the clauses that relate to national insurance contributions. I have taken on the role of a Treasury Minister because these clauses are in the Bill because they cannot technically go into a Finance Bill.
The amendments can be broadly split into two groups, one of which effects a technical and consequential amendment. The point was unfortunately missed when the class 1A legislation was drafted. It is to allow refunds of class 1 A national insurance contributions to continue to be made where relevant information reaches the employer late and leads him to overpay class 1A contributions through no fault of his own.
The other group of amendments comprises Nos. 56, 58 and 61. The House will be aware that following the Budget statement in March, my hon. Friend the Financial Secretary engaged in a period of consultation with 823 companies to find a technical solution to the problem that had arisen in relation to national insurance contributions on share option gains. I shall not go into the whys and wherefores, but an amicable solution has been reached for all concerned. I commend it to the House.
§ Lords amendment agreed to.
§ Lords amendments Nos. 56 to 72 agreed to.