- Two bills have been published to give legislative effect to the measures announced in the Autumn Statement for 2023.
- The bills are the Autumn Finance Bill 2023 and the National Insurance Contributions (Reduction in Rates) Bill.
- The Autumn Finance Bill 2023 was published on 29 November 2023, along with explanatory notes and a press release from HM Treasury.
- The bill had its first reading in the House of Commons on 27 November 2023.
- The bill includes provisions regarding the interpretation of VAT and excise law in light of the Retained EU Law (Revocation and Reform) Act 2023.
- Clause 27 of the bill will come into force on 1 January 2024.
- Four other resolutions in the Autumn Finance Bill also have statutory effect, including changes to tobacco duty rates and stamp duty rules.
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
