Finance Bill 2021

Public bill · Government · Presented

Finance measures for 2021–22 include higher USC thresholds, a small income tax band and credit increases, a longer remote-working tax relief, and extended support for first-time buyers, medical expenses, and some pension changes. It also adds or extends incentives for electric vehicles, energy saving, farming, film and digital games, while tightening rules on company tax, interest deductions, transfer pricing, and anti-avoidance. On the indirect tax side, it raises tobacco tax, updates VAT and excise rules, modernises stamp duty collection, introduces a residential zoned land tax to push housing development, and makes a number of COVID-related support and compliance changes.

Formal long title

Bill entitled an Act to provide for the imposition, repeal, remission, alteration and regulation of taxation, of stamp duties and of duties relating to excise and otherwise to make further provision in connection with finance including the regulation of customs; to amend Part 7 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 and otherwise make provision for supports to certain sectors of the economy; and to provide for related matters.

Last updated 11 September 2024