Finance Bill 2016 – an update

Finance Bill 2016 – an update

The Bill has completed its Commons stages, and the date of the next Autumn Statement has been announced.

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With Parliament back from their summer holidays along with the rest of us, progress on Finance Bill 2016 (The Bill) has restarted. The Bill completed its journey through the House of Commons on 6 September 2016, and is now considered substantively enacted. The Bill now needs to go through the House of Lords, but as they cannot amend a Money Bill, these stages are merely formalities and will be completed on 13 September 2016, with Royal Assent expected shortly after, possibly before Parliament rises for conference season on 15 September 2016, but if not, after they return on 10 October 2016. 

As no further amendments are possible, the final version of the Bill has now been published. Interestingly, one of the final amendments made to the Bill was one proposed by the opposition MP Caroline Flint, relating to public country by country (CbC) reporting. For more on this, see our full article.

In addition, the Chancellor of the Exchequer has announced the date of this year’s Autumn Statement, which will take place on Wednesday 23 November.

For further information please contact: 

Kayleigh Havard

Tel: +44 1293 652763

Email: Kayleigh.Havard@kpmg.co.uk

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