First sittings of the Finance (No 2) Bill 2021-22 debates

Introducing the first sitting of the Finance Bill Public Bill Committee chair Sir Christopher Cope reminded MPs that the committee was sitting in public and the proceedings were being broadcast so members had to think about the impression they were giving. He assumed that anyone not wearing a mask had a reasonable excuse and said there was to be no ‘abuse of the indulgence of laptops and things like that’ because that might give viewers the impression that members are not concentrating on the debate.

Annual allowance charge

First the committee agreed clauses 1 to 3 and 5 which ensure the government can collect income tax for 2022-23 set the main rates of income tax set the default rates and savings rates and freeze the starting rate limit for savings at £5 000. It then considered clause 9 ‘liability of scheme administration for...