Finance Bill 2008: Public Bill Committee Proceedings (17 June)

On 17 June 2008, the following clauses of, and Schedule to, the Finance Bill 2008 were agreed, unamended unless otherwise stated, by the Public Bill Committee of the House of Commons:

1. Clause 147 (Air passenger duty).

2. Clause 148 (Stamp duty and stamp duty reserve tax: alternative finance investment bonds). Minor government amendments agreed (see Legal update, Finance Bill 2008: government tables amendments covering alternative finance arrangements, R&D tax relief and non-domiciliaries).

3. Clauses 149 to 151 and Schedule 46 (Alternative property finance: anti-avoidance, power to vary, government borrowing). The minister announced that a consultation document relating to possible double charges to stamp duty land tax in public issues of sharia-compliant debt will be published on 26 June.

4. Clause 152 (Power of Treasury to make payments).

5. Clause 153 (Payments from certain Exchequer accounts: mechanism).

6. Clause 154 (Power to give statutory effect to concessions).

7. Clause 155 (Fuel duty: definition of "ultra low sulphur diesel").

8. Clause 156 (Duties: abolition of disregard of fractions of penny).

9. Clauses 157 (National savings).

10. Clause 158 (EU emissions trading: criminal offences).

The debate on clause 22 (periods of residence) was adjourned before the clause was agreed. The minister stated that the government is looking at whether a statutory test of individual residence could be developed.

Source: 21st sitting Commons Committee stage debate (17 June, morning) and 22nd sitting Commons Committee stage debate (17 June, afternoon).


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