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Lords Bill published

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The Lords Finance Bill was published on 3 July, incorporating all changes made to the Bill during its passage through Parliament. This is the final version of the Bill; the House of Lords does not have the power to amend a Money Bill. Royal assent to Finance Act 2020 is expected by 22 July, before the Parliamentary summer recess.

The new provisions added at report stage have been numbered as follows:

  •        Taxation of coronavirus support scheme payments: s 106 and Sch 16.
  •        Protected pension age of pension scheme members re-employed as a result of coronavirus: s 108.
  •        Modifications of the statutory residence test in connection with coronavirus: s 109.
  •        Future Fund: EIS and SEIS relief: s 110.
  •        Interest on unpaid tax in case of disaster etc of national significance: s 105.
  •        SDLT: exceptional circumstances preventing disposal of interest in three-year period: s 76.
  •        HGV road user levy: s 88.
  •        Enterprise management incentives disqualifying events: s 107.

    Second reading in the House of Lords is scheduled for 17 July.

Issue: 1495
Categories: News