With the Budget taking place this week the Finance Bill 2015 is set to be published on 24 March leaving just 24 hours to get it through parliament.
The government is planning that all stages of Finance Bill 2015 will be pushed through the commons on the afternoon of 25 March, leaving a single afternoon debating slot for more than 500 pages of legislation to be reviewed and passed in a day.
The statement made by financial secretary to the Treasury David Gauke reads:
“The Finance Bill will be published on Tuesday 24 March.
Explanatory notes on the Bill will be available in the Vote Office and the Printed Paper Office and placed in the Libraries of both Houses on that day. Copies of the explanatory notes will be available on GOV.UK.”
According to Rebecca Cave the bill is officially Finance Bill number two as it is the second Finance Bill for this session of parliament.
As the final coalition Budget edges closer most commentators and practitioners are expecting a relatively straightforward, ‘business as usual’, affair.
Measures could well include steps against aggressive tax avoidance, evasion and more detail on the ‘Google Tax’ diverted profits tax; further explanation on the business rates review; oil and gas tax breaks; a potential withdrawal of private residence relief (PPR) on sales of houses worth more than £2m; and a possible increase in the rate of capital gains tax.
As usual AccountingWEB will be covering Budget 2015 on the day with expert reaction from our panel of experts during the Chancellor’s speech, followed by analysis of the key measures affecting practitioners and small businesses.
Review the main policy contenders in Rebecca Cave’s latest tax consultation tracker and share your predictions with other AccountingWEB members in the Budget discussion group.
Register now for Rebecca Benneyworth’s updated guide to the key tax measures on the TaxCalc Budget 2015 site. Don’t forget, you can win £250 in Amazon vouchers by taking part in the TaxCalc Budget sweepstake.
