For the Finance Bill 2018-19, the government has published draft legislation that could affect a range of taxes, from Stamp Duty Land Tax (SDLT) to Income Tax. This is now open for consultation and is aligned to the commitment from the government for a ‘competitive and fair tax system’.
The payment of taxes is also outlined, with businesses and individuals who do not pay their taxes on time potentially facing a penalty.
Running until 31 August 2018, the consultation will conclude on the final contents of the Finance Bill 2018-19, which will be subject to confirmation expected in November at the Budget 2018.