ICAEW's Tax Faculty provides a summary of the announcements on tax and related matters in the Spring Budget 2021 on 3 March. Alongside an overview written by Frank Haskew, the faculty outlines announcements on business, employment, personal and property taxes, as well as on VAT and COVID-19 support packages.
The main Budget documents are the Red Book, which summarises the Budget announcements and policy decisions, and the Overview of Tax Legislation and Rates (OOTLAR), which sets out details of each policy announcement.
ICAEW brings together its expert commentary on all aspects of the Budget at icaew.com/budget.
The Finance Bill 2021 (referred to here as FB 2021) was published on 11 March 2021. This Bill will become Finance Act 2021.
Consultations on tax changes that will not be included in the next Finance Bill, or have an impact on the government’s finances, were published on Tax Day on 23 March 2021.
ICAEW Know-How from the Tax Faculty
This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.