Main rates of income tax for tax year 2020-21

Finance Bill – in a Public Bill Committee am 11:45 am ar 4 Mehefin 2020.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Amendment proposed: 5, in clause 2, page 1, line 10, at end insert—

‘(2) The Government must lay before Parliament a review of the impact of the rates of income tax for 2020-21 within six months of Royal Assent, which must consider the following issues—

(a) the effect on taxation revenue of maintaining income tax rates for 2020-2021; and

(b) the effect of income tax rates for 2020-2021 on annual income for the following:

(i) Households below average income, and

(ii) High-net worth individuals as defined by HMRC.’ —(Bridget Phillipson.)

This amendment would require the Government to assess the impact of the income tax rates in the Bill on tax revenues and on households and individuals of different income levels.

Question put, That the amendment be made.

Rhif adran 1 Finance Bill — Main rates of income tax for tax year 2020-21

Ie: 5 MPs

Na: 10 MPs

Ie: A-Z fesul cyfenw

Na: A-Z fesul cyfenw

The Committee divided: Ayes 5, Noes 10.

Question accordingly negatived.

Clause 2 ordered to stand part of the Bill.

Clauses 3 and 4 ordered to stand part of the Bill.