Draft Finance Bill clauses due to be published

Jul 02, 2018

As expected and as part of the Government’s new tax policy making timings, a recent Written Ministerial Statement confirmed that the draft legislation that will make up Finance (No.3) Bill will be published on 6 July, along with accompanying explanatory notes, tax information and impact notes, responses to consultations and other supporting documents.

This schedule is intended to allow for a period of technical consultation before the legislation is laid before Parliament after the Autumn Budget. Finance (No.3) Bill will eventually become Finance Act 2019.

Changes to the tax policy making process were announced by the Chancellor at Autumn Budget 2016 and the first Budget to take place within the new cycle was Autumn Budget 2017.  The Government’s explanation of the new cycle along with example timetables can be found here.