HL Deb 04 February 1988 vol 492 cc1194-200

[References are to Bill 62 as first printed for the Commons.]

1 Clause 9, page 6, line 39, leave out '70' and insert '69'.

2 Clause 19, page 16, line 28, at end insert 'and subject also to section 170'.

3 Clause 19, page 16, line 36, at end insert 'and subject also to section 170'.

4 Clause 36, page 33, line 21, after 'immediately' insert 'after'.

5 Clause 43, page 39, line 8, after '22(2)' insert 'and (3)'.

6 Clause 136, page 113, line 2, leave out 'this section' and insert 'section 135'.

7 Clause 139, page 120, line 18, leave out 'that office or employment' and insert 'the office or employment by virtue of which he acquired the shares'.

8 Clause 174, page 152, line 34, leave out 'or' and insert 'and'.

9 Clause 178, page 155, line 17, leave out '176' and insert '174'.

10 Clause 190, page 168, leave out lines 28 to 31.

11 Clause 218, page 194, line 15, leave out 'trade' and insert 'trades'.

12 Clause 218, page 194, line 20, leave out first 'of' and insert 'in'.

13 Clause 218, page 194, line 35, leave out 'and 218' and insert 'to 217'.

14 Clause 242, page 215, line 45, leave out '393'(8)' and insert '393(9)'.

15 Clause 281. page 250, line 29, leave out '(4)' and insert '(6)'.

16 Clause 349, page 323, leave out lines 30 and 31 and insert—

'(d) to any payment to which section 369 or 479(1) applies; and subsection (1) above does not apply to any small maintenance payment within the meaning of section 351.'.

17 Clause 409, page 386, line 20, after 'to' insert 'in'.

18 Clause 413, page 391, line 39, after 'company' insert 'or, in the case of a company within section 402(3)(b), of its holding company'.

19 Clause 413, page 391, line 42, leave out second 'the' and insert 'that'.

20 Clause 413, page 391, line 43, leave out 'of the company'.

21 Clause 427, page 407, line 15, leave out 'this section' and insert 'section 426'.

22 Clause 503, page 485, line 34, after '833(4)(c)' insert 'and of Chapter 1 of Part III of the Finance Act 1971'.

23 Clause 513, page 494, line 1, leave out subsection (1).

24 Clause 601, page 579, line 23, at end insert 'or'.

25 Clause 601, page 579, line 28, leave out '590(5)' and insert '19(3) of the Finance Act 1970'.

26 Clause 615, page 589, line 16, at end insert 'or'.

27 Clause 646, page 616, line 23, after 'under' insert 'section'.

28 Clause 687, page 649, line 11, leave out 'founded' and insert 'found'.

29 Clause 713, page 676, line after 'before' insert 'on'.

30 Clause 719, page 683, line 5, leave out '(5)' and insert '(4)'.

31 Clause 753, page 719, line 6, leave out '13' and insert '12'.

32 Schedule 7, page 845, line 21, after 'sections' insert '354(5) and (6)'.

33 Schedule 7, page 845, line 24, leave out '354' and insert '354(1) to (4)'.

34 Schedule 7, page 845, line 27, after 'sections' insert '354(5) and (6)'.

35 Schedule 7, page 845, line 35, leave out '354' and insert '354(1) to (4)'.

36 Schedule 18, page 914, line 2, leave out second 'or' and insert 'and'.

37 Schedule 27, page 973, line 17, leave out '760(3)(b)' and insert '760(3)(c)'.

38 Schedule 29, page 985, line 33, in column 2, leave out 'and (6)(a)' and insert ', (6) and (7)(a)'.

39 Schedule 29, page 985, line 41, in column 1, leave out '602(2)' and insert '602'.

40 Schedule 29, page 985, line 48, in column 2, leave out '602(2)' and insert '602'.

41 Schedule 29, page 985, line 49, in column 2, leave out '605(2)(a)' and insert '605(3)(a)'.

42 Schedule 29, page 986, line 29, leave out '602(2)' and insert '602'.

43 Schedule 29, page 986, line 31, leave out 'that subsection' and insert 'subsection (2) of that section.'.

44 Schedule 29, page 986, line 42, after '267(3C)' insert 'or 278(5)'.

45 Schedule 29, page 986, leave out lines 44 and 45 and insert— '(c) in subsection (4), in paragraph (a) for "85 of the Finance Act 1972" there shall be substituted "239 of the principal Act", and in paragraph (b) for "85" there shall be substituted "239"; and'.

46 Schedule 29, page 988, leave out lines 9 and 10 and insert—

'15. In the Capital Gains Tax Act 1979

  1. (a) for "the Taxes Act", in each place where it occurs except sections 1, 31 and 34(4)(a), the definition of "the Taxes Act" in section 155(1) and paragraph 6(8) of Schedule 1 and any provision mentioned in paragraph (b) below, there shall be substituted "the Taxes Act 1988";
  2. (b) in sections 16, 26, 29A, 32, 35, 75, 84, 87, 98, 107 and 136(10), paragraphs 4 and 5 of Schedule 5 and paragraphs 12 and 21 of Schedule 6 for "the Taxes Act" there shall be substituted "the Taxes Act 1970";
and in addition the 1979 Act shall have effect subject to the amendments specified in relation thereto in paragraphs 16 to 28 and 32 below.'

47 Schedule 29, page 999, line 8, after '333' insert 'of the Taxes Act 1988'.

48 Schedule 29, page 1000, line 5, leave out '619(7)' and insert '620(9)'.

49 Schedule 29, page 1000, line 10, leave out '(2)' and insert '(5).

50 Schedule 29, page 1000, leave out lines 12 to 19.

51 Schedule 29, page 1000, line 22, leave out '579' and insert '519'.

52 Schedule 29, page 1000, line 27, at end insert—

'5(1)(c) from "243(6)" to "1972" 8(5) of the Income and Corporation Taxes Act 1988.
'5(2) from "the said" to "1972" sections 8(5) and 822 of the 1988 Act (over-deductions from preference dividends before passing of annual Act)'.

53 Schedule 29, page 1001, line 3, at end insert—

'12(3) 154 or 251(1) 113 or 337(1)'.

54 Schedule 29, page 1001, line 12, after '134' insert '(twice'.

55 Schedule 29, page 1001, line 24, after '348' insert 'or 349(1)'.

56 Schedule 29, page 1001, line 26, at end insert—

'85(4) 111 54'.

57 Schedule 29, page 1002, line 1, at end insert—

'2, para. 8(1)(c) 78(1) or 306(1) of the principle Act 32(1) of the principal Act or section 306(1) of the Income and Corporation Taxes Act 1970'.

58 Schedule 29, page 1002, line 7, at end insert—

'6(1)(c) 463 706'.

59 Schedule 29, page 1002, leave out line 20 and insert—

'30 47 or 48 (twice) 824 or 825 of the principal Act or section 47'.

60 Schedule 29, page 1002, line 24, leave out '349' and insert '350'.

61 Schedule 29, page 1003, line 6, leave out '(6)' and insert '(5)'.

62 Schedule 29, page 1003, line 7, leave out 'that subsection' and insert 'section 615(3) of that Act'.

63 Schedule 29, page 1003, line 9, leave out '(6)' and insert '(5)'.

64 Schedule 29, page 1003, in column 3 leave out lines 15 and 16 and insert 'section 102, 113(5), 263(5) and (6), 343(10) or 783(9) of the principal Act, or paragraph 22 of Schedule 7 to the Income and Corporation Taxes Act 1970, or'.

65 Schedule 29, page 1003, line 19, in column 3, at beginning insert 'sections 6 to 12 and'.

66 Schedule 29, page 1003, line 26, leave out '5(3)' and insert '5(4)'.

67 Schedule 29, page 1004, line 6, leave out 45(3)' and insert '5(4)'.

68 Schedule 29, page 1004, line 12, in columns 2 and 3, leave out '286(4) 419(3)' and insert '286(5) 419(4)'.

69 Schedule 29, page 1004, leave out line 22.

70 Schedule 29, page 1005, line 2, after '204' insert '(three times)'.

71 Schedule 29, page 1005, leave out line 6 and insert—

'last para. from "11" to "to the principal Act" 102, 113(5), 263(5) and (6), 343(10) and 783(9) of the principal Act, to paragraph 22 of Schedule 7 to the Income and Corporation Taxes Act 1970'.

72 Schedule 29, page 1005, line 10, in column 2, at beginning insert 'Chapter'.

73 Schedule 29, page 1005, line 10, in column 3, leave out 'III of Part XII' and insert 'section 468'.

74 Schedule 29, page 1005, line 11, in column 3, at beginning insert 'section'.

75 Schedule 29, page 1005, line 16, in column 2, at beginning insert 'Chapter'.

76 Schedule 29, page 1005, line 16, in column 3 leave out 'III of Part XII' and insert 'section 842'.

77 Schedule 29, page 1005, leave out lines 24 and 25 and insert—

'540(2) 1979 1979 and any reference in this Act to the Taxes Act 1988 is a reference to the Income and Corporation Taxes Act 1988'.

78 Schedule 29, page 1006, leave out line 22 and insert—

'44(6) 63 of the Finance (No. 2) Act 1987 404 of the Taxes Act'.

79 Schedule 29, page 1006, line 23, leave out 'the Taxes Act 1988' and insert 'that Act'.

80 Schedule 29, page 1007, line 10, after of insert 'Part XIV of.

81 Schedule 29, page 1007, line 12, at end insert—

para. 13 533 of the Taxes Act 839 of that Act'.

82 Schedule 29, page 1007, line 17, at end insert—

'69(4) 80 34
134(2) 1970 1988'.

83 Schedule 29, page 1009, line 6, in column 1, leave out '(b)'.

84 Schedule 29, page 1009, line 6, in column 2, leave out '(twice)' and insert '(three times'.

85 Schedule 29, page 1009, line 11, leave out line 11 and insert—

'para. 3(1)(d) section 174 sections 388 and 389'.

86 Schedule 29, page 1009, line 16, leave out '349' and insert '350'.

87 Schedule 29, page 1009, line 20, leave out '349' and insert '349(1)'.

88 Schedule 29, page 1010, line 20, leave out '238(1)' and insert '231(5)'.

89 Schedule 29, page 1010, line 22, leave out '701(8)' and insert '701(9)'.

90 Schedule 29, page 1010, line 23, leave out '59(10)' and insert '58(10)'

91 Schedule 29, page 1011, line 2, leave out '41(3)' and insert '41(2)'.

92 Schedule 29, page 1011, line 12, at end insert—

'1(2) Taxes Act Taxes Act 1970 and Part VIII of the Taxes Act 1988'.

93 Schedule 29, page 1011, leave out line 17.

94 Schedule 29, page 1011, leave out line 20.

95 Schedule 29, page 1012, leave out lines 4 and 5 and insert—

'74(2) sub-paragraph (6) of the said paragraph 5 section 427(4) of the Taxes Act 1988.
74(2) sub-paragraph (2)(b) of that paragraph section 426(2)(b) of that Act
74(5) formed part of the said paragraph 5 were included in sections 426 to 428 of the Taxes Act 1988.'.

96 Schedule 29, page 1012, line 9, at end insert—

'89(1) paragraph 1 of the said Schedule 8 section 251(2) of the Taxes Act 1988'.

97 Schedule 29, page 1012, leave out line 15.

98 Schedule 29, page 1012, line 18, leave out '125(8)' and insert '124(8)'.

99 Schedule 29, page 1012, leave out line 21.

100 Schedule 29, page 1013, line 2, at end insert—

'155(2) 42(1)(2) 282(1) and(2)'.

101 Schedule 29, page 1013, leave out lines 22 and 23.

102 Schedule 29, page 1013, line 26, in column 2, at beginning insert 'subsections'.

103 Schedule 29, page 1014, line 2, at end insert—

'64(9)(b) 154(2) or 155(1) of the Taxes Act 113(2) or 114(1) of the Taxes Act 1988'.

104 Schedule 29, page 1014, line 3, leave out '66' and insert '65(5), 66(5)'.

105 Schedule 29, page 1014, line 3, leave out "Income and Corporation".

106 Schedule 29, page 1014, line 5, at end insert—

'73(6) 533 of the Taxes Act 839 of the Taxes Act 1988'.

107 Schedule 29, page 1014, line 7, leave out '108(8)(b)' and insert '108(8)(b)'.

108 Schedule 29, page 1014, line 19, leave out '213(2)(a)'and insert '231(3)(a)'.

109 Schedule 29, page 1014, line 21, leave out '213(1)' and insert "213(2)'.

110 Schedule 29, page 1914, leave out line 25 and insert—

'84(2) (4) of section 481 (5) of section 745
84(2) 481(1) 745(1)'.

111 Schedule 29, page 1015, line 10, in column 3, leave out '345(1)(a)' and insert '345(1)'.

112 Schedule 29, page 1015. leave out lines 15 and 16.

113 Schedule 29, page 1015, line 20, at end insert '1988'.

114 Schedule 29, page 1015, line 22, at end insert '1988'.

115 Schedule 29, page 1015, leave out lines 23 and 24.

116 Schedule 29. page 1016, line 9, at end insert—

'12, para. 3(3)(b) 341 of the Taxes Act 488 of the Taxes Act 1988
3(3)(e) Chapter III of Part XI of the Taxes Act Part XI of the Taxes Act 1988
3(3) 533 of the Taxes Act 839 of the Taxes Act 1988'.

117 Schedule 29, page 1016, leave out lines 15 to 19.

118 Schedule 29, page 1016, line 23, after 'the' insert 'Income and Corporation'.

119 Schedule 29, page 1016, line 24, in column 3, after 'the' insert 'Income and Corporation'.

120 Schedule 29, page 1016, line 24, at end insert—

'8, para. 11(2) 533 of the Taxes Act 839 of the Income and Corporation Taxes Act 1988'.

121 Schedule 29, page 1017, line 17, at end insert—

'113(8) 532 of the Taxes Act 838 of the Taxes Act 1988'.

122 Schedule 29, page 1017, line 27, in column 2, at beginning insert '(5) of section'.

123 Schedule 29, page 1017, line 27, in column 3, at beginning insert '(6) of section".

124 Schedule 29, page 1018, leave out line 4.

125 Schedule 29, page 1018, line 5, at end insert—

'12(2)(c) II of Part I of the Finance (No. 2) Act 1987 IV of Part XIV of the Taxes Act 1988.
13(4)(b) the Finance Act 1978 Schedule 9 to the Taxes Act 1988
21(3) 230 of the Taxes Act 657 of the Taxes Act 1988.
72(4) Finance Act 1978 Taxes Act 1988.
86(3) Finance Act 1978 Taxes Act 1988'.

126 Schedule 29, page 1018, line 9, at end insert—

'96 234(3) of the Taxes Act 210(4) of the Taxes Act 1988".

127 Schedule 29, page 1018, leave out lines 12 and 13 and insert—

'151(1) 218 of the Taxes Act 615(3) of the Taxes Act 1988'.

128 Schedule 29, page 1018, line 19, in the second column, at end insert 'of the Taxes Act'.

129 Schedule 29, page 1018, line 19, in the third column, at end insert 'of the Taxes Act 1988'.

130 Schedule 29, page 1018, leave out line 21 and insert—

'174(1)(a) VII of Part II of the Finance Act 1984 V of Part VII of the Taxes Act 1988
174(1)(a) 92(3) 757(3)
174(1)(b) 1 of Schedule 9 to the Finance Act 1984 4 of Schedule 4 to that Act
174(1)(b) 2(2) 7(2)
178(1) 358 of the Taxes Act 468 of the Taxes Act 1988
204(5) from "478" to "1981" 739 or 740 of the Taxes Act 1988
272 52 of the Finance Act 1974 519 of the Taxes Act 1988
272 the definition of the Taxes Act "the Taxes Act 1970" means the Income and Corporation Taxes Act 1970;
"the Taxes Act 1988" means the Income and Corporation Taxes Act 1988;'

131 Schedule 29, page 1018, line 26, at end insert—

'68(7) Taxes Act Income and Corporation Taxes Act 1970".

132 Schedule 29, page 1019, line 5, after '5(4)(a)' insert '.6(d).

133 Schedule 29, page 1019, line 5, at end insert—

'19, para 16(3) from "Part I" to "1983" Chapter III of Part VIII of the Taxes Act'.

134 Schedule 29, page 1019, leave out lines 23 to 26.

135 Schedule 29, page 1020, line 4, at end insert—

'In the Housing Associations Act 1985 c.69
Section — —
62(2) 341 488
62(2) 1970 1988'

136 Schedule 29, page 1020, leave out lines 14 to 17.

137 Schedule 29, page 1020, line 21, at end insert—

'69(6) 535 of the Taxes Act 841 of the Taxes Act 1988'.

138 Schedule 29, page 1020, line 22, leave out '65(8)' and insert '78(9)'.

139 Schedule 29, page 1021, line 8, at end insert—

'In the Insolvency Act 1986 c.45
Sch. 6 — —
para. 1 204 of the Income and Corporation Taxes Act 1970 203 of the Income and Corporation Taxes Act 1988
para. 2 69 of the Finance (No. 2) Act 1975 559 of the Income and Corporation Taxes Act 1988'

140 Schedule 30, page 1033, leave out lines 15 to 18.

141 Schedule 30, page 1033, line 38, leave out from 'which' to 'immediately' in line 39 and insert 'paragraph 9 or 17(1) of that Schedule applied'.

142 Schedule 31, page 1036, leave out line 6.

143 Schedule 31, page 1038, line 3, at end insert—

'1979 c. 14. Capital Gains Tax Act 1979 Section 155(5). In Schedule 7,
paragraph 5; in paragraph 8, in Part 1 of the Table, the entries relating to sections 265, 352 and 526 of the 1970 Act, the Finance Act 1972, section 29 of the Finance Act 1970, section 67 of the Finance Act 1976 and section 45 of the Finance Act 1977, and paragraph 3 in Part II of the Table; and in paragraph 9 the entries relating to sections 186, 246, 265, 266, 305, 352, 359, 360, 474, 488 and 489 of the 1970 Act, the Finance Act 1972, the Finance Act 1973, sections 26 and 30 of the Finance Act 1974, section 42 of and Schedule 8 to the Finance (No. 2) Act 1975, section 67 of the Finance Act 1976 and the Finance Act 1978 (except section 64(5).'.

144 Schedule 31, page 1039, in column 3, leave out lines 32 to 35 and insert 'Section 50(10)(a) and (c).'.

145 Schedule 31, page 1039, line 53, in column 3, leave out'(d)'and insert '(e)'.

146 Schedule 31, page 1040, line 9, in column 3, leave out 'and 21 to 23' and insert', 21 and 22'.

The Lord Chancellor

My Lords, with the leave of your Lordships, I beg to move that this House do agree with the Commons in their Amendments Nos. 1 to 146.

Your Lordships will be aware that the Income and Corporation Taxes Bill is a very large consolidating statute. It has been produced against a fairly tight timetable in order that the printed Act should be available to those with an interest in these matters—and that encompasses rather a lot of people—before the date of the next Budget. The result of this is that the checking process has had to be continued throughout the stages of the progress of the Bill through this House and through the other place. The Joint Committee of both Houses considering the matter had a number of amendments before it which it accepted and agreed to. The checking process has gone on since then and the result is these Amendments Nos. 1 to 146.

The amendments are technical, mainly drafting and correcting amendments, some to take account of legislation which was in course when the Bill was being considered. My noble and learned friend Lord Oliver of Aylmerton, the chairman of the Joint Committee on consolidation has seen these amendments, and I understand that he is satisfied that they may properly be made. I am very happy to seek to explain to your Lordships any individual amendment if any noble Lord should desire that. However, it may be felt that the amendments are of a character so technical that you would not wish me to explain each individually. It is in that expectation that I have asked leave of your Lordships to move them en bloc.

Moved, That this House do agree with the Commons in the said amendments. (The Lord Chancellor.)

Lord Bruce of Donington

My Lords, we on this side are obliged to the noble and learned Lord for his explanation of the Commons Amendments. As he said, they are quite numerous and so far as one can gather, they are technical where they are not drafting. We are very much obliged for the efforts that have been made to bring the Bill into its final form and in advance of the Chancellor's Budget Statement. That will facilitate matters in the Budget Statement which fall to be considered by the legal and accountancy professions, and we are accordingly grateful.

The Lord Chancellor

My Lords, I am extremely grateful to the noble Lord, Lord Bruce of Donington, for his helpful intervention. The Government—especially those who were involved in this very large exercise—will be grateful for his kind remarks.

On Question, Motion agreed to.