Finance (No. 2) Act 2015
| Jurisdiction | UK Non-devolved |
| Citation | 2015 c. 33 |
| Year | 2015 |
- TMA 1970
- Insolvency Act 1986
- Insolvency (Northern Ireland) Order 1989
- FA 1998
- FA 2003
- FA 2013
Finance (
No.
2) Act 2015
2015 CHAPTER 33
An Act 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.
[18th November 2015]
Most Gracious Sovereign
W
E,
Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards raising the necessary supplies to defray Your Majesty's public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and to grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
(1)
For any tax year to which this section applies—
(a)
the basic rate of income tax shall not exceed 20%,
(b)
the higher rate of income tax shall not exceed 40%, and
(c)
the additional rate of income tax shall not exceed 45%.
(2)
This section applies to a tax year—
(a)
which begins after the day on which this Act is passed but before the date of the first parliamentary general election after that day, and
(b)
for which income tax is charged.
(1)
The rate of value added tax for the time being in force under section 2 of
VATA
1994 (standard rate) shall not exceed 20% during the
VAT
lock period.
(2)
The rate of value added tax for the time being in force under section 29A of
VATA
1994 (reduced rate) shall not exceed 5% during the
VAT
lock period.
(3)
No supply specified in Schedule 7A to
VATA
1994 (charge at reduced rate) at the beginning...
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