Tax Law Rewrite - HMRC making tax law clearer - Fourth Bill introduced

The Income Tax Bill, introduced into Parliament by the Financial Secretary to the Treasury, John Healey MP, is published today.

It is the fourth Bill of the Tax Law Rewrite project, whose aim is to rewrite UK primary direct tax legislation so that is clearer and easier to use.

The Bill covers:

* basic provisions about the charge to income tax, income tax rates, the calculation of income tax liability, and personal reliefs;

* various specific reliefs, including relief for losses, the enterprise investment scheme, venture capital trusts, community investment tax relief, interest paid, gift aid and gifts of assets to charities;

* specific rules about trusts, deduction of tax at source, manufactured payments and repos, and tax avoidance; and

* general income tax definitions.

Announcing the Bill's introduction, John Healey said: "The Tax Law Rewrite project has made tax legislation significantly easier to understand. As we complete the fourth Bill in the project, on income tax, I would like to thank everyone who has given their time and expertise in commenting on the provisions of this Bill during consultation, and to the members of the Tax Law Rewrite project's Steering and Consultative Committees, for their invaluable help in making this possible."

Once enacted, this will complete the project's work on income tax.