15 November 2024
The Finance Bill 2024-25 has been introduced into parliament and is currently awaiting its second reading.
The bill brings a number of legislative amendments to current acts, such as ITEPA, in order to enact changes announced in and around the budget.
Such changes included in this bill are:
- Main rates of income tax (and a line that confirms that income tax will be chargeable in 2025/26, in case there was any doubt)
- Taxable benefits for cars in 2028-29
- Taxable benefits for cars in subsequent years
- Corporation tax rates
- Application of PAYE for internationally mobile employees (S690)
- Addition of Statutory Neonatal Care Pay into other provisions
The CIPP policy team will keep an eye on its passage for any relevent amendments.
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