LiveWestminster Live: Finance Bill

Culture, Media and Sport Minister Baroness Neville-Rolfe tells the House the Armed Forces "are fully supportive of this bill" and already uphold its rules on respecting and preserving cultural property.  

She says Labour's amendment requiring military guidance to reflect the responsibilities spelled out in the bill is not necessary since the joint service manual of armed conflict is regularly updated. 

Specifying that it needs to be updated only in relation to this bill "could set an unhelpful precedent", she argues, and Labour later withdraws its amendment without a vote.  

Labour spokesman Lord Touhig introduces a series of amendments which would place a duty on the secretary of state to update military guidance so that there is "no ambiguity over the responsibility and duty of commanding officers".

The bill extends criminal liability to commanders and superiors who fail to prevent the commission of offences such as damaging or removing cultural property in conflict zones.

The main effect of the bill is to ratify the Convention for the Protection of Cultural Property in the Event of Armed Conflict, which was adopted at The Hague in 1954 in the wake of destruction of cultural heritage during World War II. It was the first international treaty with a world-wide vocation focusing exclusively on the protection of cultural heritage in the event of armed conflict.

Labour call for MPs to oppose the government's proposes corporation tax cut.

Shadow treasury minister Rob Marris says Labour reject the proposal as they want a "fair tax system".

Quoting from a Institute of Fiscal Studies report Mr Marris tells MPs that "the government's cut to corporation tax will cost £10.8bn a year". 

Addressing a claim made by David Gauke that overall tax receipts are up Mr Marris argues this is "not the only yardstick" for working tax system, and says receipts would have been higher "had the rate not been slashed to the lowest in G7 and joint lowest in the G8".

Corporation tax is becoming an increasingly small percentage of tax receipts which leaves the burden for public finances on workers and other forms of taxation, he argues.

Foreign Office Minister Baroness Anelay of St Johns earlier told peers there would be "no immediate changes" to the situation of Britons living in other EU countries", and the government would work to secure "the best possible outcome for British citizens after Brexit". 

Lib Dem Baroness Miller of Chilthorne Domer objected that "two years is no time to relocate your family or business and buy a new home". 

Lady Anelay assured her that in negotiations on leaving the EU government would take a "firm view of preserving the rights of British citizens, first and foremost". 

MPs now move to the bill's business measures.

The Budget announced the headline rate of corporation tax - currently 20% - will fall to 17% by 2020.

Financial Secretary to the Treasury David Gauke announces that the cut "backs Britain's economy".

Annual threshold for 100% relief on business rates for small firms will also rise from £6,000 to £12,000 and the higher rate from £18,000 to £51,000, exempting 600,000 firms.

Debt interest payments used by larger firms to cut corporation tax bills will be capped at 30% of earnings.  

MPs have voted to reject an amendment calling for the government to produce a report on the impact extending the government's plans to introduce a public register of beneficial ownership to British Overseas Territories.

Several British Overseas Territories, including Bermuda and the Cayman Islands, were implicated in the recent Panama Papers leak as being tax havens. Supporters of the amendment believe the move would help tackle tax avoidance. 

MPs voted against the motion by 305 votes to 268.

Peers have begun committee stage of the Cultural Property (Armed Conflicts) Bill - which enshrines the 1954 Hague Convention on the protection of cultural property in war zones into UK law. 

BBC parliamentary correspondent Mark D'Arcy says: "This is a bill with huge implications for the art trade in London.

"There are a number of amendments down to require auctioneers and traders to assume that an item originating from a war zone has been unlawfully exported, and to provide buyers of cultural property - including antiques - with the information they need to make a decision as to whether the item has been unlawfully exported."

MPs have voted to reject Meg Hillier's amendment calling for an official register requiring multinationals to disclose where they do business, by 295 votes to 273.

Lib Dem Lord Oates says a memorial for enslaved Africans in Hyde Park is "long overdue", other similar memorials have received public funding, and not giving it financial support is a "shameful failure".

Communities and Local Government Minister Baroness Williams of Trafford tells him she will work with him to try to identify funding for the project. 

Memorial 2007, a group of volunteers, has been campaigning and raising money to erect a memorial to the slaves.

A design has been drawn up by Australian sculptor Les Johnson and, in 2006, the Royal Parks offered a site in the rose gardens of Hyde Park. Earlier this year, Memorial 2007 approached the government to request financial assistance but were turned down.

And the Lords are off, with the first question from Conservative Baroness Berridge on what steps the government is taking to ensure that there is open justice, and in particular open access to transcripts of proceedings in open court, in the light of the availability of digital technology. 

Justice Minister Lord Faulks responds for the government. 

The Lords kick off their day with oral questions at 2.30pm, when peers will be quizzing the governmment on:

• access to transcripts of proceedings in open court
• the proposed memorial for enslaved Africans in Hyde Park
• the charitable status of public schools and equality of opportunity 
• providing for British people who are currently living and working in, or have retired to, other EU member states. 

Then peers move on to the detail of the Cultural Property (Armed Conflicts) Bill - the bill which enshrines the 1954 Hague Convention on the protection of cultural property in war zones into UK law. 

Afterwards, there will be a short debate on renewable energy and UK energy infrastructure.

Labour MP Dame Margaret Hodge, who used to be the chair of the Public Accounts Committee, examines the situation regarding Overseas Territories, saying the BVI doesn't want to open up its books.

The Cayman Islands were not forced to reveal the data that the UK has been pushing for too, she says. 

"I urge the minister to open up to public account the tax havens which we...control," she says.

The Overseas Territories are territories under the jurisdiction and sovereignty of the United Kingdom.

MPs are also debating the Public Accounts Committee Chair Meg Hillier's amendment, on tax transparency for multinational companies, which comes out of the PAC's  hearings on the Google tax affair and the release of the Panama Papers.

The amendment asks for an official register requiring multinationals to disclose where they do business, the money they make and the tax they pay.

The government introduced the Diverted Profits Tax earlier this year, and it was quickly nicknamed the "Google tax". 

It was designed to try and put off large companies from making millions in the UK but having their headquarters elsewhere so they could collect their profits in a country where the corporation tax is lower, but it subsequently emerged that Google itself would not be caught by the tax.

Until recently governments had generally legislated against individual avoidance schemes as and when these have come to light, but the 2013 Finance Act introduced a General Anti-Abuse Rule (GAAR) to discourage tax avoidance.

GAAR is used like a blanket legislation to differentiate between what counts as responsible tax planning and what is abusive tax avoidance.

The definition of "tax advantage" in the rules is left intentionally broad to cover any form of tax benefit, for example: increasing deductions or losses; decreasing income or gains; obtaining timing advantages; obtaining or increasing repayments of tax; or ensuring that a potential tax charge does not arise or is reduced.   

It applies to the main direct taxes of income tax, capital gains tax, corporation tax, and petroleum revenue tax, as well as National Insurance contributions.

In 2015 the Conservative Government confirmed that it would introduce a penalty of 60% of the tax due which will be charged in all cases successfully tackled by the GAAR

The Finance Bill 2016 introduces measures to fine serial avoiders by allowing HMRC to put those found in tax avoidance schemes on notice for five years. 

During this time, taxpayers will be required to notify HMRC each year that they have not used any further avoidance schemes. For taxpayers who use further avoidance schemes while under warning which HMRC defeat, they will become liable to a penalty of 20% of the understated tax .

MPs have turned to the second day of committee stage on the Finance Bill  - which introduces measures in the Budget.

Up first are the government's plans to fight tax avoidance and target those who export profits to dodge tax.

The bill will introduce a new penalty for "those who enter into abusive tax arrangements", Financial Secretary to the Treasury David Gauke tells MPs.

According to the budget documents, the government will introduce legislation "to ensure offshore structures cannot be used to avoid UK tax on profits that are generated from developing UK property".

HM Revenue & Customs will also set up a new task force dedicated to rooting out offshore property developers. "This task force will target offshore structures used to avoid tax on profits and rental income from property development in the UK," says the Treasury document. 

"The task force aims to achieve a long-term improvement in taxpayer compliance."

Conservative MP Sir Roger Gale calls for Donald Trump campaign emails to be blocked on the House of Commons email system.

Sir Roger raises a point of order to complain that many MPs have been "bombarded with emails from Team Trump on the behalf of someone called Donald Trump". 

While he is in "all in favour of free speech" he does not wish to be "subject to intemperate spam", adding that "efforts to have these deleted have failed".

Speaker John Bercow replies that while "this is not a matter for the chair" he agrees it is "not acceptable to be bombarded with emails of which the content is offensive".

Mr Bercow says he will contact the Parliamentary digital services to see if the messages can be blocked.

Culture Minister Ed Vaizey says that one benefit of Brexit has been that "not a single colleague has bent my ear about broadband" since Thursday's referendum results.

It is "a sign of things returning to normal that we now discuss this subject", he says, responding to a question from Alex Chalk  - who says there is a "bureaucratic log jam" preventing super fast broadband being rolled out to his Chelmsford constituency.

Shadow Business Minister Bill Esterson accuses the government or planning "sell off the Land Registry to companies with links to offshore tax havens".

Earlier this year the government announced plans to privatise the Land Registry, which keeps the official record of commercial and residential land ownership in England and Wales.

Chancellor George Osborne revived the idea last year as part of his plan to sell £20bn of assets by the end of this parliament. 

The agency has been previously valued at around £1.2bn.

Mr Esterson says the "the truth of this sale of family silver makes a complete mockery of claims to be tackling tax evasion".

Business Secreatry Sajid Javid says he will not comment on specific bids but insists "no decision has been made".

MPs are debating the government's plans to introduce a new apprenticeship levy of 0.5% on company payrolls, which is expected to raise £3bn a year and fund three million apprenticeships.

The new charge will be imposed from April 2017 and will be used to fund apprenticeships schemes in the UK.

Business Minister Nick Boles argues the scheme will "dramatically increase spending on apprenticeships, and ensure large employers invest in apprenticeships or see their money go to someone else".

However, the levy may lead to "significant" job losses, the new head of business lobby group CBI has warned. 

Read more here.

Shadow business minister Bill Esterson criticises what he calls the "modest" plans for a Small Business Commissioner.

He calls for the commissioner to have greater powers to help deal with the "downturn from Brexit" to support the business and ensure prompt payments in the supply chain.

Business Minister Sajid Javid replies that the commissioner has "significant powers" to provide advice and deal with complaints. 

Getting business under way, Conservative MP Peter Aldous says that Brexit may put the UK's position as "the world leader in the offshore renewable industries" at risk.

The UK's position is reliant on using a network of academics working across the EU and funding from the European Investment Bank and other European bodies, Mr Aldous argues.

Business Secretary Sajid Javid replies that the UK's offshore wind market will still be a world leader "by the end of a decade".

The UK "can still cooperate on science and research as many countries do from outside the EU", he argues.

At 11.30am, the day in the Commons will start questions to Business Secretary Sajid Javid, and his ministerial team.

Given the fluid nature of positions in the shadow cabinet there will be no shadow business secretary leading on the Labour front bench. Instead remaining shadow business ministers, Chi Onwurah, Kevin Brennan and Bill Esterson will be responding.

Hello and welcome to our live rolling coverage of events in the Houses of Parliament as they happen.

Today's big legislation is the second day of detailed committee stage scrutiny of the Finance Bill, where Public Accounts Committee Chair, Meg Hillier’s amendment on tax transparency looks set to be the main event.

The cross-party amendment - which is apparently the brainchild of Labour ex-minister Caroline Flint - comes out of the PAC's hearings on the Google tax affair and the release of the Panama Papers.

It would establish an official register requiring multinationals to disclose where they do business, the money they make and the tax they pay.

With a considerable cross-party coalition behind it, the amendment is highly likely to be called by the Speaker, who has a track record of ensuring that proposals by select committees are debated.

This will be followed by the adjournment debate on the future of Bedford Hospital, led by Conservative Richard Fuller.