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Bill · started in the Commons

Finance (No. 3) Act 2010

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.

Now an Act of Parliament

The story so farThe Finance (No. 3) Bill was introduced in the House of Commons on 15 September 2010 by Mr David Gauke (Conservative). It completed its passage through Parliament and became law as the Finance (No. 3) Act 2010, receiving Royal Assent on 16 December 2010.

What the bill does

<p>The annual Finance Bill encompasses all the changes to be made to tax law for the year. Its formal description is &quot;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.&rdquo; </p><p>In fact, this Bill is the second Finance Bill of the current Session. Its purpose is to enact a series of technical tax measures inherited from the previous Labour government's Budget on 24 March 2010. The timing of the 2010 General Election saw the Labour Government introduce a shortened Bill, with the intention of introducing a second Bill after the election. </p><p>In its first Budget on 22 June the Coalition Government announced that it would introduce one short Finance Bill before the summer recess to implement its key priorities, and a second Bill in the autumn to clear these inherited measures.</p>

Progress through Parliament

  1. 1st reading Commons 15 Sep 2010
  2. 2nd reading Commons 11 Oct 2010
  3. Committee stage Commons 19 Oct to 28 Oct 2010
  4. Report stage Commons 8 Nov 2010
  5. 3rd reading Commons 8 Nov 2010
  6. 1st reading Lords 9 Nov 2010
  7. 2nd reading Lords 22 Nov 2010
  8. Committee negatived Lords 22 Nov 2010
  9. 3rd reading Lords 22 Nov 2010
  10. Royal Assent Unassigned 16 Dec 2010

Source: the official bill page. Last updated 27 Mar 2012.