Bespoke Tax Accountants

Specialist tax advice, accountancy and tax returns

01242 505970
info@bespoketax.com

  • Home
  • About Us
    • Meet The Team
    • Careers
    • Statutory Information
    • Privacy Policy
  • Who We Help
    • Personal and Family
    • Business
    • Our Clients
  • News
    • Making Tax Digital
  • Giving Back
  • Contact
  • Cloud Accounting
    • Xero

Draft legislation for Finance Bill 2019-20

17th July 2019 By bespoketax

Draft legislation for Finance Bill 2019-20

The Government has published the draft legislation for Finance Bill 2019-20, along with accompanying explanatory notes, tax information and impact notes, responses to consultations and other supporting documents. The Bill will contain the legislation for some of the tax measures that were announced by the Government at Autumn Budget 2018 many of which have since been the subject of further consultation.

The publication of the Finance Bill is in line with the approach to tax policy making set out in the Government’s documents 'Tax Policy Making: a new approach', published in 2010, and 'The new Budget timetable and the tax policy making process', published in 2017 whereby the Government committed to publishing most tax legislation in draft for technical consultation before the legislation is laid before Parliament.

This Finance Bill will see the introduction of a number of measures from April 2020 including:

  • The extension of off-payroll working rules to the private sector from April 2020. These rules will be similar to those already in effect for the public sector and small firms will be exempt.
  • The Digital Services Tax which will see major social media, search engine and online retailers subject to a 2% tax on revenues generated from UK users of their services
  • The Corporate Capital Loss Restriction will mean that companies who accrue chargeable capital gains will only be able to offset up to 50% of those gains using carried-forward capital losses, subject to certain reliefs.  

The consultations on the draft legislation will close on 5 September 2019, with measures included in the next Finance Bill. The Finance Bill will become known as Finance Act 2020 after Royal Assent is received.

Filed Under: Uncategorised

Recent News

  • New measures to help with the cost-of-living crisis
  • Domicile and IHT
  • Agent authorisation re SEISS grants
  • HMRC wins disguised remuneration case

News Categories

  • Budget Summary
  • Business
  • Business Support
  • Capital allowances
  • Capital Gains Tax
  • Company Secretarial
  • Construction Industry Scheme
  • Corporate Governance & Regulation
  • Corporation Tax
  • Customs Duties
  • Duties
  • Employee Benefits
  • Employment & Payroll
  • Employment Law
  • European Union
  • Family Tax Credits
  • General
  • HMRC notices
  • Income Tax
  • Inheritance Tax
  • National Insurance
  • NIC & Pensions
  • Other duties
  • Overseas personal tax issues
  • Overseas tax issues
  • Payroll
  • Pension
  • Personal
  • Practice News
  • Stamp duty
  • Stamp Duty Land Tax
  • Tax credits
  • Tax Diary
  • Value Added Tax

About Us

Bespoke has a reputation for helping our clients make the most of their financial situations and in turn we have become a trusted extension of their business or family.

Bespoke assist with compliance requirements, providing specialist tax advice, and planning for now and the future.

Keep informed.
Sign up for our Topical Newsletter

Our FREE monthly newsletter will keep you up to date with the latest news related to the world of accountancy.

Register Here

Contact

Delta Place,
27 Bath Road, Cheltenham,
Gloucestershire, GL53 7TH
01242 505970
info@bespoketax.com

ICAEW Chartered AccountantsXERO Gold PartnerChartered Institute of TaxationMember of EISA

Copyright © 2022 · Bespoke Tax Accountants · Website by Culpepper & Co

.