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Starting over
Key points
- Main rates of tax confirmed including the rate of corporation tax maintained at 19%.
- New regime for fixing benefit charge on company cars.
- Tax exemption of voluntary office-holders’ reimbursed expenses put on a statutory footing.
- Government amendments to the loan charge.
The opening session of this year’s Finance Bill public bill committee began with the chair Siobhain McDonagh stating the usual pleasantries but also a new one: ‘Members will understand that we need to respect social distancing guidance. I shall intervene if necessary to remind everyone.’
This was a sad reminder of the extraordinary circumstances in which the UK and much of the rest of the world currently find ourselves.
However irrespective of the pandemic the bill must be debated and MPs began with the...
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