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Finance Bill 2013: additional draft legislation

printer Mail

HMRC has published additional draft Finance Bill legislation to exclude ‘inadvertent remittances’ from tax under the remittance basis for non-domiciled individuals; provide for an increase in the pensions drawdown limit; and introduce a tax exemption for new bodies created by changes to the structure of policing in England and Wales.

A revised version of draft legislation published on 11 December deals with vulnerable beneficiary trusts. The revised draft contains ‘detailed provisions originally planned to be introduced by secondary legislation but which will now be introduced via Finance Bill 2013’, HMRC said.

Details are provided on the HMRC website and comments are invited by 6 February, the closing date for comments on the draft legislation published last month.