The government has today published the 2015 Summer Finance Bill, together with explanatory notes. The Bill is 212 pages long, and the explanatory notes 132 pages.
This is the second Finance Bill of 2015 and includes:
- measures originally announced in the 2015 Spring Budget and 2014 Autumn Statement on which there have been a number of consultations;
- new measures announced last week in the 2015 Summer Budget.
The Bill is called the ‘Finance Bill’ (not the ‘Finance (No 2) Bill’) because it is the first Finance Bill of the current parliamentary session. However, when enacted it will be called the ‘Finance (No 2) Act 2015’ because it will be the second Finance Act of the calendar year.
The legislation will take effect from a variety of dates and deals with some 30 separate areas, as listed under the headings below.
Business Tax team
Private Client Tax team
Venture capital schemes
Administration and enforcement