text_body: --- DIVISION TITLE ---
  
  Finance Bill - New Clause 24 - Review of Impact of 2% Non-Resident Surcharge
  
  --- MOTION EFFECT ---
  
  @ MP voted aye to require an annual report on the impact of an extra 2% stamp duty tax on land purchases by those not resident in the United Kingdom, and on the potential role of a register of overseas entities that own UK property.
  
  @ MP voted no not to require an annual report on the impact of an extra 2% stamp duty tax on land purchases by those not resident in the United Kingdom, and on the potential role of a register of overseas entities that own UK property.
  
  
  The majority of MPs voted not to require an annual report on the impact of an extra 2% stamp duty tax on land purchases by those not resident in the United Kingdom, and on the potential role of a register of overseas entities that own UK property.
  
  MPs were considering the Finance Act[1][2][3].
  
  The proposed new clause rejected in this vote was titled: ''Review of impact of 2% non-resident surcharge'' and stated:
  
  :(1) The Chancellor of the Exchequer must review the impact of section 88 and schedule 16 of this Act on tax revenues, residential property prices, affordability of residential property, and the volume of property purchases by non-residents, and lay a report of that review before the House of Commons within six months of the passing of this Act and once a year thereafter.
  
  :(2) The review under this section must include an assessment of what those impacts would have been if the provisions in the [https://www.gov.uk/government/consultations/draft-registration-of-overseas-entities-bill Draft Registration of Overseas Entities Bill] had been in force.â
  
  Section 88 and schedule 16 of the Act[2][3] introduce a 2% Stamp Duty Land Tax (SDLT) surcharge on purchases of dwellings made by non-resident purchasers, including certain UK- resident companies controlled by non-residents. 
  
  The draft Registration of Overseas Entities Bill sets out provisions to establish a new beneficial ownership register of overseas entities that own UK property.[4]
  
  
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  * [1] [https://bills.parliament.uk/bills/2835 Parliament's webpage on the  Finance Bill], Parliament.uk
  * [2] [https://publications.parliament.uk/pa/bills/cbill/58-01/0270/en/200270en.pdf Explanatory notes to the Finance Bill, 11 March 2021], Parliament.uk
  * [3] [https://publications.parliament.uk/pa/bills/cbill/58-01/0270/200270.pdf Finance Bill, as introduced, 11 March 2021], Parliament.uk
  * [4] [https://www.legislation.gov.uk/ukpga/2020/14/part/2/enacted Part 2 of the Finance Act 2020], Legislation.gov.uk
  * [5] [https://www.gov.uk/government/consultations/draft-registration-of-overseas-entities-bill Government webpage on the Draft Registration of Overseas Entities Bill, viewed 7 September 2022], Gov.uk
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  