Finance Bill 2023

Public bill · Government · Presented

Finance measures in 2023 focus on keeping a range of farming tax breaks in place for longer, including reliefs for young trained farmers, farm restructuring, farm partnerships, slurry storage, farm safety equipment and farm consolidation. It also extends temporary help with fuel and energy costs by keeping lower fuel taxes, reduced VAT on electricity, gas, hospitality and tourism, and zero VAT on Covid-19 test kits in place for a limited period. The business energy support scheme is adjusted and extended so more firms can qualify, get a larger payment, and have more time to claim.

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; to amend the Finance Act 2022 with regard to the Temporary Business Support Scheme and otherwise make provision for supports to certain sectors of the economy; and to provide for related matters.

Last updated 30 August 2024