Tax simplification – Finance Bill 2005
Following Gordon Brown’s Budget confirmation that “a package of supplementary measures” on tax simplification was in the pipeline, the Finance Bill 2005 was published on 24 March 2005. The amending provisions are contained in two rather short sections (sections 150 and 151) and a rather chunky schedule (Schedule 19). The changes in the Bill will form part of the tax simplification changes due to come into force on 6 April 2006 (A-Day). They reflect those changes announced by the Inland Revenue back in February 2005, with the new measures covering four main areas of the current tax simplification proposals.