Final stages of the Finance Bill
As the Finance Bill enters its final stages, Lindsey Wicks provides a comprehensive list of what it contains. She covers: income tax, employment and social security income, international matters, corporation tax, capital allowances, leases, reliefs, VAT, the soft drinks industry levy, carbon emissions tax and new clauses, among many other things!
In December 2018 it was rumoured that the third Finance Bill of this Parliament could receive Royal Assent before the Christmas break, but is more likely to become Finance Act 2019 in the new year, possibly in January. This article is based upon the Bill at 11 December 2018, after amendments at the committee stages.
Not only is there the possibility of the Bill receiving limited parliamentary scrutiny, it includes measures announced in the Budget on 29 October 2018 that have not been subject to consultation. Rushed legislation is often flawed. This Bill contains evidence of previous mistakes with numerous amendments to recently enacted legislation (covered towards the end of this article).