The Government has published draft clauses for the next Finance Bill, which broadly cover pre-announced policy changes.
The Government is committed, where possible, to publishing most tax legislation in draft for technical consultation before the relevant Finance Bill is laid before Parliament.
The consultation draft clauses is intended to make sure that the legislation works as intended.
Each measure comprises
- A tax information and impact note (TIIN)
- Draft legislation
- An explanatory note which provides a more detailed guide to the legislation.
Also included are the impacting definitions for the tax information and impact notes and the Financial Sectary to the treasury’s declaration about the tax information and impact notes.
The consultation will close on 14 September 2021.