The annual Finance Bill is the vehicle by which annual taxes (such as corporation tax and income tax) are renewed by parliament. The government also takes the opportunity of the Finance Bill to review the imposition of all taxes and to introduce new tax administration measures as announced in the budget.
In recent years the government has committed to publishing the majority of Finance Bill measures in draft several months prior to Budget Day. In addition a number of measures, concerning, for instance, tax avoidance, have been consulted on over the past several months.