Finance Bill

 


MPs are considering amendments and new clauses tabled to the Finance Bill, relating to tax reliefs and easements and support measures in response to coronavirus. After report stage third reading debate will take place.

MPs considered amendments and new clauses tabled to the Finance Bill, relating to the Digital Services Tax, the Bill's environmental impact, the loan charge and off-payroll working. 

A live blog of the tenth and final public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on 18 June from 2.00pm. MPs debated Labour and SNP new clauses on the Bill's impact on the environment, equalities and the tax gap, among other things. 

A live blog of the eighth public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on Tuesday 16 June 2020 from 2.00pm. Clauses 86-98 were passed, covering (among other things) Air Passenger Duty, various environmental taxes, international trade disputes, .HMRC priority on insolvency, phoenixism and the GAAR.

A live blog of the seventh public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on the morning of Tuesday 16 June 2020. The session covered clauses 72 to 85 in Part 3 of the Bill, which covers areas including IHT, Stamp Duty, VAT, alcohol, tobacco and vehicle excise duties.

A live blog of the sixth public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on Thursday 11 June 2020 from 2pm. The session covered the later clauses in Part 2 of the Bill, which covers the introduction of the Digital Services Tax. 

A live blog of the fifth public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on Thursday 11 June 2020 from 11.30am. The session focused on Part 2 of the Bill, which covers the introduction of the Digital Services Tax.

A live blog of the fourth public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on Tuesday 9 June 2020 from 2pm. Clauses passed covered increases in the rate of the Research and Development Expenditure Credit (RDEC), and of Structures and Buildings Allowances; changes to the tax treatment of some intangible fixed assets; the Enterprise Investment Scheme (EIS) and 'top slicing relief'.

A live blog of the third public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on Tuesday 9 June 2020 from 9.25am. Topics covered included the annual allowance for tax relief on pension contributions, changes to entrepreneurs' relief, private residence relief and corporate capital losses.

The Finance Bill had its second reading in the House of Commons on Monday 27 April.  The Bill includes measures such as a Digital Services Tax, changes to the controversial Loan Charge and retaining corporation tax at 19 per cent (rather than implementing a previously legislated cut to 17 per cent). It makes some business reliefs more generous to encourage investment but introduces restrictions on the availability of two capital gains tax reliefs - entrepreneurs’ relief and private residence relief.