Hot on the heels of the Chancellor’s budget speech to Parliament on 29th October, the final version of Finance Bill 2018-19 was published by Government on 7th November. The Bill includes the proposed legislation that will formally enact the tax policy measures announced by the chancellor. This Bill will be debated in both houses, and amended as required, before becoming enshrined in legislation as Finance Act 2019 sometime around March 2019.
The technical details of this Bill will be pored over by those in the tax profession keen to get ahead of forthcoming changes. In line with the new legislative timetable, a draft version of the Bill had been published back in July. The final version however includes double the number of Schedules, and a further 100 pages of legislation, taking us up to 324 in total – the Chancellor remarked that “You will know better than most that every chancellor likes to have a rabbit or two in his hat as he approaches a budget”. Whilst some way off the more than 700 pages of the Finance (No.2) Bill 2017, there is still plenty of new content here for us to get our teeth into.
As of 24th May 2018, MXC Capital Ltd (LON:MXCP) holds a 4% share in Tax Systems.
