Govt publishes new Finance Bill

Date: 31st March 2011

Small businesses operating in the UK could be among those interested in the publication of the new Finance Bill.

The Bill will enact the tax measures recently announced in the coalition's Budget Statement including the £1,000 increase in personal allowances.

Also included in the new Bill is the 1p reduction in fuel duty and cuts to corporation tax, which will see the rate eventually fall to 25 per cent.

David Gauke, the exchequer secretary, said the new measures will boost business growth and target those looking to abuse the tax system.

"The Finance Bill demonstrates the government’s commitment to promoting growth and fairness. Its measures improve the tax system for both business and citizens and tackle tax avoidance by those who seek to gain an unfair advantage over others," he commented.


"It also acts as an example of the way in which we aim to bring in changes to the tax system in future to ensure greater predictability, stability and simplicity."

Posted by Emily Smith