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Bill · started in the Commons

Finance Act 2009

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Review, and to make further provision in connection with finance.

Now an Act of Parliament

The story so farThe Finance Bill was introduced in the House of Commons on 28 April 2009 by Stephen Timms (Labour). It completed its passage through Parliament and became law as the Finance Act 2009, receiving Royal Assent on 21 July 2009.

What the bill does

<p>The annual Finance Bill encompasses all of the changes to be made to tax law for the year. Its formal description is &lsquo;a Bill to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.&rsquo; The Bill will enact many of the measures announced in the Budget, which was presented by the Chancellor of the Exchequer, Alistair Darling, on 22 April 2009. </p><ul><li>Two important changes to income tax were announced in the 2009 Budget, which will take effect from April 2010, and the Bill includes enabling provisions for these: <br>a new higher rate of income tax of 50 per cent on income over &pound;150,000 </li><li>the gradual withdrawal of the personal allowance for individuals with incomes above &pound;100,000. </li></ul><p> </p>

Progress through Parliament

  1. 1st reading Commons 28 Apr 2009
  2. 2nd reading Commons 6 May 2009
  3. Committee stage Commons 12 May to 13 May 2009
  4. Committee stage Commons 19 May to 25 Jun 2009
  5. Report stage Commons 7 Jul to 8 Jul 2009
  6. 3rd reading Commons 8 Jul 2009
  7. 1st reading Lords 8 Jul 2009
  8. 2nd reading Lords 20 Jul 2009
  9. Royal Assent Unassigned 21 Jul 2009

Source: the official bill page. Last updated 11 May 2011.