Contributions
1,107 recent contributions in Hansard
HANSARDFinance (No. 2) Bill (First sitting)Clause 13 makes provisions to improve the operation of the structures and buildings allowances for taxpayers. The clause will require relevant allowance statements to include the…14 Dec 2021HANSARDFinance (No. 2) Bill (First sitting)I welcome the lack of opposition to these clauses, which will support UK growth, by the hon. Member for Ealing North. The hon. Member for Glasgow Central made a point about the…14 Dec 2021HANSARDFinance (No. 2) Bill (First sitting)The clause allows for regulations to be made to address the tax impacts of the remedy to the unlawful age discrimination that arose from the 2015 public service pension reforms.…14 Dec 2021HANSARDFinance (No. 2) Bill (First sitting)The hon. Members for Glasgow Central and for Ealing North both mentioned the transitional arrangements and notice. They are right to identify that the Government have acknowledged…14 Dec 2021HANSARDFinance (No. 2) Bill (First sitting)Clause 10 makes changes to increase the normal minimum pension age to 57. It also establishes a protection regime, which will enable some individuals to continue to access their…14 Dec 2021HANSARDFinance (No. 2) Bill (First sitting)Clause 9 extends the reporting and payment deadlines so that an individual can ask their pension scheme to settle their annual allowance tax charge of £2,000 or more from a…14 Dec 2021HANSARDFinance (No. 2) Bill (First sitting)I will make a couple of points in response. First, the hon. Member for Ealing North mentioned the tax burden rising; he will know that we are still in the midst of a pandemic and…14 Dec 2021HANSARDFinance (No. 2) Bill (First sitting)It is a pleasure to serve under your chairmanship, Sir Christopher. Clause 1 legislates for the charge of income tax for 2022-23. Clauses 2 and 3 set the main default and savings…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)I am grateful for the hon. Member’s indication that the Opposition will not oppose this measure. HMRC does generally provide guidance, and I am very happy to update the hon.…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)The Committee will be disappointed to learn that this is probably the last clause that we will deal with today. It introduces schedule 6, which supports the expansion of the…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)I am grateful for the fact that the Opposition do not intend to oppose the clause. Question put and agreed to. Clause 30 accordingly ordered to stand part of the Bill. Clause 31…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)Clause 30 makes technical amendments to the corporate loss relief rules introduced in 2017. They ensure that the rules continue to operate as originally intended and that eligible…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)I thank the hon. Member for her question, but the whole purpose of the clause, which will allow costs to be spread over a number of years, is to make things easier for insurers. I…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)Clause 29 introduces a power to lay regulations before Parliament in connection with the new international accountancy standard for insurance contracts, known as IFRS 17,…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)Clause 26 makes a change to ensure that corporation tax rules for hybrids and other mismatches operate proportionately in relation to certain types of transparent entity.…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)I thank the hon. Lady for indicating her support for clause 24, and I commend it to the Committee. Question put and agreed to. Clause 24 accordingly ordered to stand part of the…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)Clause 24 makes changes to abolish cross-border group relief to ensure that loss relief is limited to UK losses, thereby providing relief only for companies that the UK can tax.…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)I am grateful to the Labour Front-Bench team for not opposing the measure, which is indeed very sensible. Her Majesty’s Revenue and Customs regularly engages with all stakeholders…14 Dec 2021HANSARDFinance (No. 2) Bill (Second sitting)Clause 23 extends the time for payment of capital gains tax on property disposals from 30 days to 60 days, as well as clarifying the rules for mixed-use properties. It will affect…14 Dec 2021HANSARDFinance (No. 2) Bill (First sitting)I commend the clauses to the Committee. Question put and agreed to. Clause 17 accordingly ordered to stand part of the Bill. Clauses 18 to 22 ordered to stand part of the Bill.…14 Dec 2021