The Spring Finance Bill was published today (23 March 2023). It will eventually become the Finance (No. 2) Act 2023. The links towards the bottom of this page are to the Bill itself and to the Explanatory Notes.
Part 1 of the Bill covers Clauses 1 to 43, dealing with Income tax, corporation tax and capital gains tax. This is set out under the following headings:
- Income tax charge, rates etc
- Corporation tax charge and rates
- Capital allowances
- Other reliefs relating to businesses
- Reliefs for employees
- Social security
- Foster carers etc
- Estates in administration and trusts
- Provisions relating to insurance
- Miscellaneous corporation tax matters
- International matters
- Chargeable gains
Part 2 (clauses 44 to 120) deals with Alcohol duty.
Part 3 (clauses 121 to 264) is headed Multinational top-up tax.
Part 4 (clauses 265 to 277) is headed Domestic top-up tax.
Part 5 (clauses 278 to 312) deals with the Electricity Generator Levy.
Part 6 (clauses 313 to 329) deals with Other taxes, under the following headings:
- Stamp duty land tax
- Value added tax
- Import duty
- Fuel duties
- Tobacco products duty
- Soft drinks industry levy
- Air passenger duty
- Vehicle taxes
- Environmental taxes
Finally, Part 7 (clauses 330 to 352) deals with Miscellaneous and final, under the following headings:
- Freeports and investment zones
- Management of customs and excise
- Charities and community amateur sports clubs
- Homes for Ukraine Sponsorship Scheme
- Office of Tax Simplification
- The dormant assets scheme
https://publications.parliament.uk/pa/bills/cbill/58-03/0276/en/220276en.pdf (Explanatory Notes)
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Capital Allowances, by Ray Chidell and Jake Iles, offers in-depth coverage of plant and machinery allowances, structures and buildings allowances, and all other UK capital allowances.
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