Market leading insight for tax experts
View online issue

Queen’s Speech tax measures

printer Mail

The proposed legislative programme for the new parliamentary session includes:

  • Finance Bill and NIC Bill commitments to ensure no rises in rates of income tax, VAT or NICs for the next five years, and link the income tax threshold to the level of the national minimum wage for individuals working 30 hours a week;
  • an Enterprise Bill, which will introduce measures to reduce regulation on small businesses so they can create jobs;
  • a Scotland Bill, to enable the Scottish Parliament to set income tax rates and thresholds in Scotland, share VAT revenues, and devolve air passenger duty and aggregates levy (the Bill now been introduced, see, and will be passed in April 2017 at the earliest); and
  • a full Employment and Welfare Benefits Bill, freezing tax credits for two years.

Further tax measures are due in the Budget on 8 July.