TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Finance Bill 2016 published

The 2016 Finance Bill in the UK, known as the Finance (No. 2) Bill 2015–16, was published on 24 March 2016 and had its second reading in the House of Commons on 11 April.

The Bill consists of 179 clauses and 25 schedules with two volumes of Explanatory Notes. Volume 1 covers clauses 1 to 81 and deals with income tax, corporation tax and capital gains tax. Volume 2 covers clauses 82 to 179 and covers the remaining tax heads.

Due to the 28 day ‘purdah’ period before the EU referendum on 23 June, time given to consider the Bill will be less than usual.

Certain clauses will be considered by a Committee of the whole house over two days as yet to be announced. The remainder of the Bill will be considered by a Public Bill Committee which will complete its proceedings mid July 2016. Further details on the Bill can be found on the parliament website.