Summer Budget 2015 Resolution 23 — Finance Bill Provisions Taking Effect in a Future Year — 14 Jul 2015 at 18:50

The majority of MPs voted in favour of allowing the Finance Bill to include provisions taking effect in future years. These provisions were limited to certain areas as set out in the motion.

MPs were debating the Summer Budget 2015^[1]. The motion approved by the majority of MPs in this vote stated:

• That, notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills, any Finance Bill of the present Session may contain the following provisions taking effect in a future year—
• (a) provision about the personal allowance for the purposes of income tax,
• (b) provision about the basic rate limit for the purposes of income tax,
• (c) provision about the rate of corporation tax for the financial years 2017, 2018,2019 and 2020,
• (d) provision about inheritance tax,
• (e) provision in connection with the taxation of pensions,
• (f) provision for the purposes of income tax about finance-related expenses in connection with property businesses,
• (g) provision about the tax treatment of travel expenses of members of local authorities and bodies with similar or related functions or purposes, and
• (h) provision about vehicle excise duty in respect of light passenger vehicles.

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• [1] Summer budget 2015 documents

Debate in Parliament | Source |