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Finance Bill 2007, which runs to 113 clauses and 27 Schedules, and enacts many of the Budget measures announced on 21st March, has been published.

Commenting on the Bill's publication, Paymaster General Dawn Primarolo said:

"The Government is committed to creating a modern and fair tax system which promotes long term investment and environmentally sustainable growth, encourages and rewards work and savings, and supports and strengthens families. Today's Finance Bill introduces important measures to promote fairness, maintain the UK's competitiveness, and to tackle tax avoidance and fraud."

The Lobby Notes, also published today (29th March), briefly describe the clauses and Schedules in the Bill and can be found on the HM Treasury website (see below).  More detailed Explanatory Notes on clauses are available from Stationery Office bookshops and also on the HM Treasury website.

The date of the Second Reading debate in the House of Commons will be announced in due course by the Leader of the House in the usual way.

In conjunction with the publication of the Bill, the following items have also been published:

• Draft Regulations concerning the mandatory electronic filing of PAYE returns;
• Regulatory Impact Assessments dealing with:

Managed Service Companies;
Ensuring compliance with the tax avoidance disclosure regime;
HMRC and the taxpayer: modernising powers, deterrents and safeguards: penalties for incorrect returns;
Criminal investigation powers; and
New duty of excise called 'remote gaming.

Links

Finance Bill 2007

Explanatory Notes to Finance Bill 2007