Main rates of income tax for tax year 2020-21

Finance Bill – in a Public Bill Committee at 11:45 am on 4th June 2020.

Alert me about debates like this

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.

Division number 1 Finance Bill — Main rates of income tax for tax year 2020-21

Aye: 5 MPs

No: 10 MPs

Ayes: A-Z by last name

Nos: A-Z by last name

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.