Charting the expected progress of the Bill through Parliament.
In July 2017, HM Treasury announced that the second Finance Bill of 2017 would be published ‘as soon as possible after the summer recess’. Provisions omitted from FA 2017 are expected to be reintroduced in the second Bill, and likely to apply ‘as originally announced’, with many having effect from April 2017.
Based on the information available, the Bill is likely to progress across the Autumn as follows:
This leaves the key question of royal assent to the second Finance Act of 2017:
Is there sufficient time to complete all remaining stages before the November half-term recess, particularly given the likely Parliamentary time devoted to Brexit?
Is a mid or late-November royal assent date more likely?
Assuming that all substantive stages are completed before the half-term recess, there is no reason for royal assent to be withheld. It would be tidier to finish dealing with the second Bill before the break, leaving the decks clear (Brexit notwithstanding) to move on with the Budget and Finance Bill in the November/December sitting.
On this basis, we can expect royal assent on 7 November 2017. Other opinions are, of course, widely available.
Daniel Meredith, editor of Tolley’s Yellow & Orange Tax Handbooks
Home >Articles > What now for this year’s second Finance Bill?
What now for this year’s second Finance Bill?
Charting the expected progress of the Bill through Parliament.
In July 2017, HM Treasury announced that the second Finance Bill of 2017 would be published ‘as soon as possible after the summer recess’. Provisions omitted from FA 2017 are expected to be reintroduced in the second Bill, and likely to apply ‘as originally announced’, with many having effect from April 2017.
Based on the information available, the Bill is likely to progress across the Autumn as follows:
This leaves the key question of royal assent to the second Finance Act of 2017:
Is there sufficient time to complete all remaining stages before the November half-term recess, particularly given the likely Parliamentary time devoted to Brexit?
Is a mid or late-November royal assent date more likely?
Assuming that all substantive stages are completed before the half-term recess, there is no reason for royal assent to be withheld. It would be tidier to finish dealing with the second Bill before the break, leaving the decks clear (Brexit notwithstanding) to move on with the Budget and Finance Bill in the November/December sitting.
On this basis, we can expect royal assent on 7 November 2017. Other opinions are, of course, widely available.
Daniel Meredith, editor of Tolley’s Yellow & Orange Tax Handbooks
