Resolved,
That it is expedient to authorise any incidental or consequential charges to any duty or tax (including charges having retrospective effect) that may arise from provisions designed in general to afford relief from taxation.
PROCEDURE (FUTURE TAXATION)
Resolved,
That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may contain provision for the financial year 2015 for the rate of corporation tax on profits of companies, other than ring fence profits (within the meaning of section 276 of the Corporation Tax Act 2010), to be 20%.
PROCEDURE (FUTURE TAXATION)
Resolved,
That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may contain the following provisions taking effect in a future year—
(a) provision for corporation tax to be charged for the financial year 2014,
(b) provision about taxable benefits in respect of cars,
(c) provision about the standard lifetime allowance under Part 4 of the Finance Act 2004,
(d) provision about the annual allowance under that Part,
(e) provision about the standard rate of landfill tax,
(f) provision about the rates of climate change levy, and
(g) provision for and in connection with penalties for late filing, late payment and errors.
PROCEDURE (R&D EXPENDITURE CREDITS)
Resolved,
That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may contain provision for and in connection with the payment of credits to companies in respect of expenditure on research and development.
PROCEDURE (TELEVISION TAX CREDITS)
Resolved,
That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may contain provision for tax credits to be paid to television production companies in respect of expenditure on television production activities.
PROCEDURE (VIDEO GAME TAX CREDITS)
Resolved,
That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may contain provision for tax credits to be paid to video game development companies in respect of expenditure on video game development activities.
PROCEDURE (DECOMMISSIONING RELIEF AGREEMENTS)
Resolved,
That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may contain provision authorising the payment out of money provided by Parliament of sums payable by the Treasury or a Minister of the Crown to a company in connection with the amount of tax relief obtained in respect of decommissioning expenditure incurred by it.
PROCEDURE (INTERNATIONAL AGREEMENTS TO IMPROVE TAX COMPLIANCE)
Resolved,
That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may make provision for the purposes of enabling effect to be given to international agreements relating to international tax compliance which are entered into by the Government of the United Kingdom.
PROCEDURE (PENALTY INSTEAD OF FORFEITURE OF LARGER SHIPS)
Resolved,
That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may contain provision about the imposition of penalties instead of forfeiture of larger ships for or in connection with offences under any enactment relating to customs or excise.
FINANCE (MONEY)
Queen’s recommendation signified.
Resolved,
That, for the purposes of any Act of the present Session relating to finance, it is expedient to authorise the payment out of money provided by Parliament of—
(a) sums incurred by the Commissioners for Her Majesty's Revenue and Customs in respect of the payment of credits to companies in respect of expenditure on research and development,
(b) sums payable by the Treasury or a Minister of the Crown to a company in connection with the amount of tax relief obtained in respect of decommissioning expenditure incurred by it, and
(c) sums payable by the Secretary of State by virtue of any provisions of the Act relating to vehicle excise and registration.
Ordered,
That a Bill be brought in upon the foregoing Resolutions;
That the Chairman of Ways and Means, The Prime Minister, The Deputy Prime Minister, Mr Chancellor of the Exchequer, Secretary Vince Cable, Secretary Iain Duncan Smith, Secretary Eric Pickles, Danny Alexander, Greg Clark, Mr David Gauke and Sajid Javid bring in the Bill.
Finance (No. 2) Bill
Presentation and First Reading
Mr David Gauke accordingly presented a Bill to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.
Bill read the First time; to be read a Second time tomorrow, and to be printed (Bill 154).