The first House of Lords reading of the above bill took place on 21 July. This stage is a formality that signals the start of the Bill's journey through the Lords. Second reading - the general debate on all aspects of the Bill - and all remaining stages - is scheduled for today, 26 July.
This type of Bill is known as a "Money Bill". The House of Lords cannot amend Money Bills so Committee Stage, Report Stage and Third Reading are largely procedural formalities as it passes through the House of Lords.
Consideration of proposed amendments takes place once the 3rd reading in the House has occurred. Royal Assent generally follows, and on past experience can be expected either late this week or early next.
On enactment of the bill, a full detailed analysis will appear in a future edition of Tax News.
The bill, as it currently stands, can be accessed here