Finance Bill 2002

Public bill · Government · Presented

Finance Bill 2002 changes a wide range of taxes and duties. It increases income-tax bands and credits, raises some tax reliefs, introduces a 21% VAT rate, cuts betting duty to 2% while modernising its collection, and increases excise duties on tobacco, fuel and cider. It also extends selected incentives for businesses, housing, healthcare, sport and renewable energy, introduces optional tonnage-based corporation tax for shipping companies, and gives Revenue stronger powers to collect unpaid tax and inspect records.

Formal long title

Bill entitled an Act to provide for the imposition, repeal, remission, alteration and regulation of taxation, of stamp duties and of duties relating to excise and otherwise to make further provision in connection with finance including the regulation of customs

Last updated 28 January 2020