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Overview of Finance Bill 2022 proceedings

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The House of Lords Library has published a new briefing paper summarising the various stages in the passage of Finance Bill 2022 through Parliament.

The briefing summarises amendments agreed (and a number of opposition amendments that were defeated) at Committee Stage and Report Stage, including the introduction of the new public interest business protection tax.

The House of Lords Economic Affairs Finance Bill Sub-committee had previously published a report on basis period reform and the requirement for large businesses to notify HMRC where they adopt an uncertain tax treatment. The paper summarises the UK government’s responses to that report.

The paper also notes the House of Commons Treasury Committee’s recent report which criticised the announcement of the health and social care levy outside of a ‘fiscal event’ which resulted in Parliament voting on the levy without detailed background information that would usually accompany tax proposals.

Issue: 1564
Categories: News