Publication of the Finance Bill

In his Budget statement, the Chancellor set out measures to deliver the Government's objectives of prosperity and fairness for Britain's families. Finance Bill 2007, which enacts many of the Budget measures, is published today. Paymaster General Dawn Primarolo said:

"The Government is committed to creating a modern and fair tax system which promotes long term investment and environmentally sustainable growth, encourages and rewards work and savings, and supports and strengthens families. Today's Finance Bill introduces important measures to promote fairness, maintain the UK's competitiveness, and to tackle tax avoidance and fraud."

The Lobby Notes, published today, briefly describe the clauses and Schedules in the Bill and can be found on the HM Treasury website. More detailed Explanatory Notes on clauses are available from Stationery Office bookshops and also on the HM Treasury website.

Further details on the Bill will be published on the HM Treasury and HM Revenue & Customs websites as the Bill progresses through Parliament.

Also published today is the following draft regulation:

The mandatory electronic filing of PAYE returns.

And the following Regulatory Impact Assessments are also published today:

Managed Service Companies;
Ensuring compliance with the tax avoidance disclosure regime;
HMRC and the taxpayer: modernising powers, deterrents and safeguards: penalties for incorrect returns;
Criminal investigation powers; and
New duty of excise called 'remote gaming tax'.

Notes to editors

The date of the Second Reading debate in the House of Commons will be announced in due course by the Leader of the House in the usual way.
Lobby Notes and Explanatory Notes will be available for each clause and schedule of the Bill. The Notes are being deposited in Parliament, with the authority of Ministers, to provide Parliament with a better understanding of the purpose and effect of the Government's proposals during the passage of the Finance Bill.
The Bill and the Explanatory Notes are both published by the Stationery Office and will be available in electronic and paper formats. The Finance Bill and the Explanatory Notes are available from Stationery Office bookshops.
The Finance Bill is also available from the Parliamentary website www.parliament.uk. The Explanatory Notes and Lobby Notes can also be found on the Treasury website.
Regulatory Impact Assessments are available from the HM Revenue & Customs website www.hmrc.gov.uk.
Media requests should be addressed to the HM Treasury Press Office on 020 7270 5238. Also to the HM Revenue & Customs Press Office on 020 7147 2327.
Non-media enquiries should be addressed to the Treasury Correspondence and Enquiry Unit on 020 7270 4558, or by e-mail to public.enquiries@hm-treasury.gov.uk
This press release and other Treasury publications and information are available on the Treasury website. If you would like Treasury press releases to be sent to you automatically by e-mail you can subscribe to this service from the press release site on the website.