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TAX NEWS

Finance Bill 2021 published

Article

Published: 12 Mar 2021 Update History

Key measures announced at the Spring Budget including an increase to future corporation tax rates, the super-deduction, extended loss relief and changes to interest and penalties are included in the Bill.

While the government has already consulted on a number of the clauses in Finance (No.2) Bill 2019-21 (commonly known as Finance Bill 2021) in draft legislation released on 21 July 2020 and 12 November 2020, many of the measures in the final Bill reflect the announcements made at the Spring Budget on 3 March.

The Bill includes several key Budget measures for ICAEW members, such as:

The Tax Faculty plans to issue detailed guidance for its members on all these areas in due course.

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