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Tax body warns against Finance Bill haste

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29th Mar 2005
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The ICAEW's Tax Faculty is to write to MPs this week urging them not to seek to pass all the provisions in the Finance Bill before Parliament is dissolved for a General Election.

The Bill was published last Thursday, 24 March. Its 172 clauses and 20 schedules will enact many of the Budget measures announced on 16 March.

The House of Commons is in recess until 4 April. The faculty has pointed out in a published note to members that if there is to be an election on 5 May, Parliament will have to be dissolved some time during the week commencing 11 April.

"We will be writing during the coming week to the Government, the Opposition parties and members of last year's Standing Committee urging them not to seek to pass all the provisions in the published Bill before Parliament is dissolved," the faculty said.

"This is what happened in 2001 but on that occasion there was an extra month for debate as the 2001 election took place in June.

"If Parliament is serious about enacting well drafted law then parliamentary Bills need to be subject to proper scrutiny."

Andrew Goodall
Editor, TaxZone

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    By AnonymousUser
    30th Mar 2005 15:36

    Question
    Does the draft legislation still contain the sections that could potentially allow backdated double taxation?

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