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The first sitting
KEY POINTS
- A time limit is placed on the making good of benefits.
- Changes to car benefit-in-kind rates to encourage the take-up of low-emission cars.
- Increase in the limit of allowable pensions advice.
- The pensions money purchase annual allowance will reduce to £4 000.
- The dividend nil-rate band is reduced to £2 000.
The Public Bill Committee started scrutinising the Finance Bill on 17 October with George Howarth chairing the meeting. After the normal preliminaries (jackets could be removed only water supplied to be drunk mobile phones turned off or to silent) the Financial Secretary to the Treasury Mel Stride explained the purpose of clause 1 ‘Taxable benefits: time limit for making good’.
‘Clause 1 makes changes to ensure that there is a clear and consistent date...
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