Don’t hold your breath but the third Finance Bill of 2010 (Finance (no 2) Bill) is due to be published at any time. It will in time become Finance (no 3) Act 2010.

It has been a confusing year for Finance Acts so here is a summary to explain what is what:

1 April 2010: the Finance Bill 2010 was published. This Bill was cut down to be passed in advance of the General Election and so became Finance Act 2010.

1 July 2010: the Finance Bill 2010 published. As this was the first Finance Bill in the new Parliamentary session, it is also called Finance Bill 2010 (even though it was the second such Bill in the calendar year). It became Finance (no 2) Act 2010 on 27 July 2010.

12 July 2010: draft legislation was published for consultation. It was introduced into the House of Commons in September as Finance (no 2) Bill 2010. Presumably this will be enacted later this year and will be called Finance (no 3) Act 2010.

Don't panic. If you are a subscriber, we track all these changes in our Finance Acts Planner and summarise them in our regular Adviser Updates.

Thank you to the Institute of Chartered Accountants in England and Wales who created the above summary.

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