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PROCEDURE (FUTURE TAXATION: RATES OF INCOME TAX)

Volume 542: debated on Monday 26 March 2012

Question put,

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 about income tax taking effect in a future year—

(a) provision that for the tax year 2013-14—

(i) the basic rate is 20%,

(ii) the higher rate is 40%, and

(iii) the additional rate is 45%, and

provision about other rates of income tax.

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 about personal allowances for the purposes of income tax,

(b) provision for corporation tax to be charged for the financial year 2013,

(c) provision exempting certain persons from income tax in respect of certain income arising in connection with the 2013 Champions League final,

(d) provision about taxable benefits in respect of cars,

(e) provision in relation to profits arising from the exploitation of patents and other similar rights,

(f) provision about indexation of the annual exempt amount,

(g) provision amending Chapter 4 of Part 1 of the Finance Act 1994,

(h) provision about the standard rate of landfill tax,

(i) provision amending, or making amendments connected with, Schedule 6 to the Finance Act 2000,

(j) provision about indexation of the rate bands for inheritance tax,

(k) provision removing certain reliefs from stamp duty,

(l) provision repealing section 57 of, and Schedule 6 to, the Finance Act 2003,

(m) provision in respect of harbour reorganisation schemes,

(n) provision removing reliefs connected with payments relating to reductions in pool betting duty,

(o) provision for and in connection with the abolition of relief under section 266 of the Income and Corporation Taxes Act 1988,

(p) provision for and in connection with the repeal of section 459 of the Income Tax Act 2007,

(q) provision about capital allowances,

(r) provision in relation to mineral leases or agreements,

(s) provision removing reliefs in respect of incidental expenses incurred in connection with the disposal or acquisition of deeply discounted securities,

(t) provision repealing section 249 of the Taxation of Chargeable Gains Act 1992,

(u) provision repealing section 89 of the Income Tax (Earnings and Pensions) Act 2003,

(v) provision removing certain reliefs from excise duty for black beer,

(w) provision removing certain reliefs from excise duty for angostura bitters,

(x) provision removing tax relief on interest from tax reserve certificates, and

(y) provision repealing section 62(2) and (3) of the Finance Act 1946.