Following the recent budget, the government has now published Finance Bill 2020.
The Bill, which is also being referred to as Finance Bill 2019-21, had its first reading in parliament on 17 March 2020. No date has yet been set for the second reading. It includes new measures announced at and before Budget 2020 and replaces the draft Finance Bill 2019-20 which was published in July 2019.
We have not yet reviewed the Bill in any detail but note that it:
- Provides for Entrepreneurs’ Relief to be re-named ‘Business Asset Disposal Relief’.
- Makes no provision for the introduction of the off-payroll working rules to the private sector which has been delayed to April 2021.
External link
Policy paper: Finance Bill 2020 legislation and explanatory notes
