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Finance Bill watch

Tax experts called for a 'categorical assurance' from Government and Opposition parties that they will revisit the pre-election Finance Act provisions later this year if 'technical or practical problems are detected by the tax profession'.

The Bill completed its second reading and the remaining Commons stages in just three hours on the evening of 7 April. Clauses 23 (landline duty) 58 (security for payment of PAYE) and 65 (furnished holiday lettings) and the related Schedules 2 and 21 were dropped. Clauses 9 (alcohol duties) and 72 (interpretation) were amended and passed.

In its initial comments on the Finance Bill published on 1 April the CIOT complained that it was 'clearly unsatisfactory to have such a lengthy Finance Bill potentially passed with no debate in Parliament'. A number of clauses and schedules 'really should be dropped' the tax body said because they deal with areas that...

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