Finance Bill (No.2) 2017

26 July 2017

Further to the announcement that all policies will be back in the second 2017 Finance Bill, the government has published explanatory notes (albeit brief) on each of the Finance Bill resolutions.

The notes include confirmation that the Finance Bill (No. 2) is authorised to make provision for:

  • Taxable benefits (time limit for making good and ultra-low emission vehicles)
  • Employer-provided pensions advice
  • Income tax treatment of certain legal expenses etc
  • Termination payments etc
  • PAYE settlement agreements
  • Pensions: money purchase annual allowance

Ministers have confirmed that the Finance Bill (No. 2) 2017 will be introduced as soon as possible after the summer recess. This will legislate for all policies that were included in the pre-election Finance Bill (and those originally announced to start from April 2017 will be effective from that date).