On 17 September, a Public Bill Committee agreed amendments to clause 9, increasing the IHT nil-rate band for main residences passed to direct descendants, with amendments clarify the types of trust through which property may be treated as inherited, and the definition of ‘closely inherited’.
On 17 September, a Public Bill Committee agreed amendments to clause 9, increasing the IHT nil-rate band for main residences passed to direct descendants, with amendments clarify the types of trust through which property may be treated as inherited, and the definition of ‘closely inherited’.
Clauses 1 (income tax lock), 2 (VAT lock), 2–6 (personal allowance and national minimum wage etc), 7 (rates of corporation tax for financial years 2017–2020), 8 (annual investment allowance), 10 (IHT rate bands for 2018/29, 2019/20 and 2020/21), 11-15, and Schedule 1 (IHT: settlements; interest) were passed without amendment. The committee will sit next on 13 October and will conclude on 20 October. For more information on the debates, see www.bit.ly/1NO2QTr.
After the debate, financial secretary David Gauke, tweeted: ‘Pleased that Labour supported the cut in corporation tax to 18% in today’s Finance Bill debate. Anyone told the shadow chancellor?’
On 17 September, a Public Bill Committee agreed amendments to clause 9, increasing the IHT nil-rate band for main residences passed to direct descendants, with amendments clarify the types of trust through which property may be treated as inherited, and the definition of ‘closely inherited’.
On 17 September, a Public Bill Committee agreed amendments to clause 9, increasing the IHT nil-rate band for main residences passed to direct descendants, with amendments clarify the types of trust through which property may be treated as inherited, and the definition of ‘closely inherited’.
Clauses 1 (income tax lock), 2 (VAT lock), 2–6 (personal allowance and national minimum wage etc), 7 (rates of corporation tax for financial years 2017–2020), 8 (annual investment allowance), 10 (IHT rate bands for 2018/29, 2019/20 and 2020/21), 11-15, and Schedule 1 (IHT: settlements; interest) were passed without amendment. The committee will sit next on 13 October and will conclude on 20 October. For more information on the debates, see www.bit.ly/1NO2QTr.
After the debate, financial secretary David Gauke, tweeted: ‘Pleased that Labour supported the cut in corporation tax to 18% in today’s Finance Bill debate. Anyone told the shadow chancellor?’
