text_body: --- DIVISION TITLE ---
  
  Budget Resolution 13. Business Investment Relief
  
  --- MOTION EFFECT ---
  
  
  
  
  @ MP voted aye to expand the range of circumstances under which those investing funds derived from foreign income and gains in the UK may do so without those foreign income and gains becoming subject to UK tax.
  @ MP voted no against expanding the range of circumstances under which those investing funds derived from foreign income and gains in the UK may do so without those foreign income and gains becoming subject to UK tax.
  
  
  The majority of MPs voted to expand the range of circumstances under which those investing funds derived from foreign income and gains in the UK may do so without those foreign income and gains becoming subject to UK tax. 
   
  The motion supported by the majority of MPs in this vote was:
  
  :That provision (including provision having retrospective effect) may be made about the conditions under which business investment relief in [https://www.legislation.gov.uk/ukpga/2007/3/part/14/chapter/A1 Chapter A1 of Part 14 of the Income Tax Act 2007] is available.
  
  Section 809VA of [https://www.legislation.gov.uk/ukpga/2007/3/part/14/chapter/A1 Chapter A1 of Part 14 of the Income Tax Act 2007] which provided for ''Business investment relief'' was introduced by [http://www.legislation.gov.uk/ukpga/2012/14/schedule/12/paragraph/7#text%3D809VJ Schedule 12 PART 2 Paragraph 7 of the Finance Act 2012]
  
  ''Business investment relief'' enables foreign income and gains to be invested in the UK without becoming subject to taxation under the [https://www.gov.uk/government/publications/remittance-basis-hs264-self-assessment-helpsheet/hs264-remittance-basis-2014 "remittance basis" alternative tax treatment] available to individuals who are resident, but not domiciled, in the UK. "Remittance basis" is an alternative to paying to  UK tax on worldwide income and gains, and instead paying tax on UK 
  income and gains and foreign income and gains if and when they are brought to the UK.[1]
  
  While the motion which was the subject of this vote had a broader scope, it probably is intended to relate specifically to the provisions in [https://publications.parliament.uk/pa/bills/cbill/2017-2019/0102/cbill_2017-20190102_en_4.htm#pt1-pb2-l1g15 Clause 15 of the Finance Act 2017] proposes amendments to the ''Business investment relief'' (BIR) scheme, the explanatory notes to the Bill[2] state:
  
  "This clause introduces a number of changes to the rules governing BIR to encourage foreign investors to make greater investment into UK business."
  
  Specific changes include:
  
  * to allow an investor to claim BIR on the acquisition of existing shares in a company in which they have made an investment.
  * allows an investor to claim BIR when investing in a stakeholder and trading company.
  * clarification of the position in relation to corporate members of partnerships.
  
  The passing of the resolution which was the subject of this vote may enable provisions to be in operation before the Finance Bill is enacted[3].
   
  The explanatory notes to the Ways and Means motions[4] state the motion which was the subject of this vote:
  
  :Authorises the Finance Bill to make provision (including with retrospective effect) about the conditions under which business investment relief in Chapter A1 of Part 14 of the Income Tax Act 2007 is available. 
  
  == 
  
  * [1] [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/528018/RDR1-residence-domicile-remittance.pdf HM Revenue and Customs, Guidance Note: Residence, Domicile and the Remittance Basis]
  * [2] [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/642806/finance_bill_september_2017_explanatory_notes.pdf Explanatory notes to the Finance Bill 2017]
  * [3] [http://researchbriefings.files.parliament.uk/documents/SN00813/SN00813.pdf House of Commons Briefing paper SN00813, The Budget and the annual Finance Bill]
  * [4] [https://publications.parliament.uk/pa/bills/cbill/2017-2019/FinanceDocuments/ResolutionsNotes.pdf Explanatory notes on Finance Bill motions, 6 September 2017]
  
  
  
  
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  