Collection

Finance Bill 2021

Supporting documents for Finance Bill 2021, the vehicle for renewing annual taxes, delivering new tax proposals and maintaining administration of the tax system.

• From: HM Revenue & Customs and HM Treasury
• Published: 12 November 2020
• Last updated: 18 May 2021 — See all updates

Finance Bill 2021 legislation

Finance Bill 2021 was published on 11 March 2021.

Read the Finance Bill 2021 and explanatory notes on the Parliamentary website.

Finance Bill 2021: parliamentary passage

• Finance Bill 2021: Public Bill Committee
  • 22 April 2021
  • Policy paper
• Finance Bill 2021: Committee of the Whole House
  • 15 April 2021
  • Policy paper
• Finance Bill 2021: Report stage
  • 18 May 2021
  • Policy paper

Measures with effect from 3 March 2021

• Repeal of provisions relating to the Interest and Royalties Directive
  • 3 March 2021
  • Policy paper
• New temporary tax reliefs on qualifying capital asset investments from 1 April 2021
  • 3 March 2021
  • Policy paper

Notes on Finance Bill 2021 resolutions

The government has published notes on resolutions, which give a brief description of each of the Finance Bill resolutions.

• Notes on Finance Bill resolutions 2021
  • 3 March 2021
  • Guidance

Further draft legislation published for Finance Bill 2021

The government is committed, where possible, to publishing most tax legislation in draft for technical consultation before the relevant Finance Bill is laid before Parliament.

The consultation on draft clauses is intended to make sure that the legislation works as intended.

The final contents of Finance Bill 2021 will be subject to confirmation at Budget 2021.

Each measure comprises:

• a tax information and impact note (TIIN) which sets out what the legislation seeks to achieve, why the government is undertaking the change and a summary of the expected impacts
• draft legislation
• an explanatory note which provides a more detailed guide to the legislation

Also included are the impacting definitions for the tax information and impact notes and the Financial Secretary to the Treasury’s declaration about the tax information and impact notes.

The consultation on draft clauses will close on 7 January 2021.

Other draft legislation for this Finance Bill was published on 21 July 2020. At that point, the Bill was expected to be Finance Bill 2020-21 and this was reflected in the published documents

Read the draft legislation published for consultation on 21 July 2020.

• Amendments to the hybrid and other mismatches regime for Corporation Tax
  • 12 November 2020
  • Policy paper
• Changes to tackle Construction Industry Scheme abuse
  • 26 March 2021
  • Policy paper
• Introduction of a new plastic packaging tax
  • 12 November 2020
  • Policy paper
• Preventing abuse of Research and Development tax relief for small and medium-sized enterprises
  • 4 March 2021
  • Policy paper
• The tax impact of the withdrawal of LIBOR and other benchmark rates
  • 12 November 2020
  • Policy paper

Published 12 November 2020
Last updated 18 May 2021 + show all updates

1. 18 May 2021

   Added: 'Finance Bill 2021: Report stage'

2. 20 April 2021

   Added: 'Finance Bill 2021: Public Bill Committee'

3. 15 April 2021

   Added: 'Finance Bill 2021: Committee of the Whole House'

4. 12 November 2020

   First published.