Finance Bill 2020

Public bill · Government · Presented

Raises some taxes and extends or adjusts a wide range of tax supports and reliefs, while also putting in place Covid-19 business and income supports. It changes USC, income tax credits, VAT, excise, stamp duty, capital taxes and corporation tax rules, including help for first-time buyers, hard-hit businesses, self-employed people and sectors such as hospitality, pubs and film. It also updates reporting rules and tax collection arrangements to make the system work better and to reflect Brexit-related changes.

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; to amend Part 7 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 and otherwise make provision for supports to certain sectors of the economy; and to provide for related matters.

Last updated 23 May 2022