Purpose of consultation
The government has made a commitment to confirm the majority of Finance Bill measures at least three months prior to introduction, including the publication of draft legislation where possible. This consultation fulfils this commitment in advance of Finance Bill 2012.
The aim of this consultation process is to provide more certainty for taxpayers and greater window for scrutiny in advance of the legislative process. The government would welcome comments to ensure the legislation works as intended. We are not seeking comments on the policy as part of the consultation.
The government published the majority of draft legislation for Finance Bill 2012 measures on 6 December 2011. Since December, the government has published further legislation for a small number of draft clauses.
The overview document provides a summary of the draft legislation published, alongside updates on measures that will be included in the Finance Bill, but where draft legislation is not being published at this stage. The document also includes a Tax Information and Impact Note (TIIN) for each measure, which explain what the measure does, why it is proposed and what its impacts are.
The draft legislation and explanatory notes are published separately. Explanatory notes are intended to assist the reader in understanding the legislation, but are not meant to be a comprehensive description of the legislation. So, where a section or part of a section does not seem to require any explanation or comment, none is given.
In addition, we have provided the same information separately for each measure. Each piece of draft legislation below is accompanied in the same document by a draft explanatory note and a TIIN.
If you wish to comment on any of the draft legislation, please use the contact details provided at the end of each explanatory note.
If you have any comments on the consultation process, please email firstname.lastname@example.org