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A review of the first two sittings of the public bill committee’s debate on the Finance Bill.
KEY POINTS
- Income tax and VAT locks guarantee rates for the duration of parliament.
- New permanent rate of annual investment allowance will give businesses certainty.
- The new residence nil rate band adds complexity to the legislation.
- Inheritance tax online service will be available later this year.
Soon after the House of Commons returned for the autumn the public bill committee began its debate on the Finance Bill 2015/16.
Readers need not despair – it seems that few sittings are planned. At the start of the first meeting David Gauke financial secretary to the Treasury said there would be eight in total with matters being concluded by 5pm on 20 October. This might be seen as a cause for celebration given the usual quality of the discussion. On the...
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