Draft legislation published for Finance Bill 2019-20
The government is committed, where possible, to publishing most tax legislation in draft for technical consultation before the relevant Finance Bill is laid before Parliament.
The consultation on draft clauses is intended to make sure that the legislation works as intended.
The final contents of ‘Finance Bill 2019-20’ will be subject to confirmation at Budget 2019.
Each measure is accompanied by:
- a tax information and impact note (TIIN) which sets out what the legislation seeks to achieve, why the government is undertaking the change and a summary of the expected impacts
- draft legislation
- an explanatory note which provides a more detailed guide to the legislation
Also included are the impacting definitions for the tax information and impact notes and the Financial Secretary to the Treasury’s declaration about the tax information and impact notes.
The consultation will close on 5 September 2019.