Finance (No. 2) Bill 2016/2017 was published last week and began its progress through Parliament having already had its first reading in the House of Commons on 14 March. Supporting explanatory notes to the Bill are also available.
The Bill contains draft legislation on some significant changes to the UK tax regime including the introduction of the new £1,000 property and trading income tax free allowances announced at Budget 2016. Changes to the corporation tax regime also feature with measures such as the new legislation governing the deductibility of corporate interest and reforms to the corporation tax loss relief rules.