The latest Finance Bill, which is officially titled Finance (No. 2) Bill 2024-26, continues its progress through the parliamentary process. The Bill will eventually become Finance Act 2026. Last week the Bill completed Committee Stage on 6 February and is now at Report Stage, the final stage where amendments can be made. Report Stage, the date for which has not yet been set, will be followed by Third Reading in the House of Commons before the Bill moves on to the House of Lords.
At Public Bill Committee stage, a range of amendments were made to the Bill details of which are set out in a policy paper published last month. The amendments to the Bill to increase the £1 million allowance for agricultural property relief and business property relief to £2.5 million were previously debated and agreed during the Committee of the Whole House debates which took place on 12 and 13 January 2026.
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