What can we expect from Finance Bill 2018-19?
Rebecca Cave provides a summary of the key proposals contained in the current draft Finance Bill legislation, including benefits-in-kind, capital gains, VAT, HMRC powers and more.
The draft Finance Bill 2018-19 will become the Finance Act 2019 when it is passed in late March 2019, barring any intervening political upheavals. Most of the Bill’s provisions will take effect from 1 or 6 April 2019 or a later date, although there are some retroactive provisions concerning benefits-in-kind for vehicles and HMRC powers.
This article is based on the draft legislation for the Bill as it was published on 6 July 2018, plus the policy documents released alongside it. The draft provisions could be subject to changes announced in the Budget in November 2018, or as a result of representations made during the consultation period which ends on 31 August.