Finance Bill 2025 passed Report Stage on 3 March 2025 and was given its third reading – completing the House of Commons stages. The Bill was next expected to be reprinted incorporating the Government amendments before moving to the House of Lords stages which had been scheduled for 19 March 2025. The House of Lords does not have the power to amend a Finance Bill so other than the correction of minor typographical errors the next version of the Bill (the ‘Lords Bill’) is effectively the final version.
The CIOT had issued a briefing paper on the report stage changes to the non-dom clauses and schedules highlighting a number of key points:
Bringing migrating trusts (trusts that were non-UK resident that become UK resident) into the scope of the four-year foreign income and gains (FIG) exemption is welcomed but the CIOT notes that ...
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Finance Bill 2025 passed Report Stage on 3 March 2025 and was given its third reading – completing the House of Commons stages. The Bill was next expected to be reprinted incorporating the Government amendments before moving to the House of Lords stages which had been scheduled for 19 March 2025. The House of Lords does not have the power to amend a Finance Bill so other than the correction of minor typographical errors the next version of the Bill (the ‘Lords Bill’) is effectively the final version.
The CIOT had issued a briefing paper on the report stage changes to the non-dom clauses and schedules highlighting a number of key points:
Bringing migrating trusts (trusts that were non-UK resident that become UK resident) into the scope of the four-year foreign income and gains (FIG) exemption is welcomed but the CIOT notes that ...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
