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MIKE TRUMAN looks at the final stages of this year’s Finance Bill
KEY POINTS
- A general anti-avoidance provision is still under review.
- Trap sprung on 10p tax rebels: their amendment might have stopped tax collection immediately.
- The tension between simplification and fairness.
- Limited change to pension relief.
All good things come to an end and this year’s Finance Bill came to an end with Royal Assent on 21 July.
That is the same date as the previous year’s Finance Act despite the Budget being six weeks later – a feat achieved primarily by the simple expedient of having fewer sittings of the Public Bill Committee to discuss it.
The debate by the whole House of Commons at report stage was held over two days as usual and started on 7 July.
Avoidance schemes
The debate started with a consideration of new clause 8 which...
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