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Finance Bill 2011: draft clauses to be published on 9 December

printer Mail

The Government will publish draft clauses planned for Finance Bill 2011 on 9 December.

At the same time, the Government will publish ‘a formal response or update’ on consultations on tax policy-making, simplification of corporate capital gains for companies, pensions annuitisation, furnished holiday lettings and a number of areas relating to HMRC's powers review.

‘Ahead of this, the Government will publish more details on corporate tax reform, including interim improvements to controlled foreign company legislation and reform of foreign branches planned for inclusion in the Finance Bill 2011. It will also publish the outcome of consultations that have been carried out on a number of anti-avoidance measures,’ said David Gauke, the Exchequer Secretary to the Treasury, in a ministerial statement.

A notice on the Parliament website confirms that, as Tax Journal reported last week, the Chancellor will deliver his Autumn Statement on Monday, 29 November.

Gauke told MPs that the consultation paper ‘Tax policy making: a new approach’, published in June, set out a commitment to build a new approach to tax policy making, ‘one founded on predictability, stability and simplicity – with consultation on policy design and scrutiny of draft legislation as the cornerstones’.