Budget 2021 and Finance (No.2) Bill 2019-21
The Chancellor Rishi Sunak presented the 2021 Budget on 3 March. The Finance (No.2) Bill 2019-21 was published on 11 March, and received its second reading on 13 April.

The Chancellor Rishi Sunak presented the 2021 Budget on 3 March. The Finance (No.2) Bill 2019-21 was published on 11 March, and received its second reading on 13 April.
In recent years concerns as to the scale of mass marketed tax avoidance schemes have led to three major initiatives to undermine this market, and encourage a sea change in attitudes, both in the accountancy industry and its customers: the Disclosure of Tax Avoidance Schemes regime (DOTAS); the General Anti-Abuse Rule (GAAR); and the system of follower notices & accelerated payments. Following these initiatives the Government has continued to introduce provisions to tackle both tax avoidance and tax evasion, including measures in both the Spring & Autumn Budgets in 2017, and the 2018 Budget. This note provides an introduction to the issue of tax avoidance, looking in detail at the development of follower notices and accelerated payments, before discussing the current Government’s approach.
This paper gives a brief summary of the structure of inheritance tax before looking at the debates there have been about the tax in recent years.
Research Briefing
An overview of initiatives to support businesses through the coronavirus pandemic.
Research Briefing
UK tax law is specifically targeted rather than purposive: in tackling the exploitation of loopholes in the law, governments have legislated against individual avoidance schemes as and when these have come to light. This note looks at the case that has been made recently for a general anti-avoidance rule, and the Coalition Government's introduction of a 'narrower' General Anti-Abuse Rule in 2013.
Research Briefing
This paper sets out direct tax rates and principal tax allowances for the 2021/22 tax year, as confirmed in the 2021 Budget on 3 March 2021. The paper outlines the conditions necessary for eligibility for these tax allowances, and provides a summary of the general tax position in straightforward cases.
Research Briefing
This note discusses the Coalition Government’s approach to corporate tax reform since 2010, focusing on the reductions made to the main rate, the decision to set a single rate of tax, and the reforms made to tax reliefs for capital investment. It goes on to examine the debate over corporate tax avoidance and the international efforts, led by the OECD, to tackle avoidance by multinationals through ‘Base Erosion and Profit Shifting’ (BEPS). It concludes by providing an update on these issues up to the end of 2020.
Research Briefing
This note discusses the reforms to corporation tax announced by the Chancellor Rishi Sunak in his 2021 Budget.
Research Briefing
In the 2021 Budget the Chancellor Rishi Sunak announced that the income tax personal allowance and the higher rate threshold would be frozen for four years from 2022/23 to 2025/26.
Research Briefing
This paper provides a summary description of the structure of inheritance tax (IHT) and the main reliefs which are available.
Research Briefing
This House of Commons Library Briefing Paper describes the specific Government initiatives which have been developed in order to assist first-time buyers into home ownership and, in some cases, to help existing owners who are seeking to move. The paper includes some comment on these schemes.
Research Briefing
This note gives a short introduction to the way VAT works, and the significance of EU VAT law has had for setting VAT rates, before discussing the campaign for a lower VAT rate on tourist services and the Government's introduction of a temporary reduced VAT rate for hospitality, holiday accommodation and attractions in July 2020.
Research Briefing
This Commons Library paper discusses the reforms to taxation of sales of residential property that have been made in recent years, before looking at earlier debates about the way house sales have been taxed.
Research Briefing
In general married couples are taxed as individuals, though a minority of older couples & civil partners may still claim a 'married couple's allowance'. Since 6 April 2015 individuals have been entitled to transfer part of their personal tax allowance to their spouse or civil partner, if neither they nor their partner are higher rate taxpayers.
Research Briefing
To support the self-employed through the coronavirus outbreak the Government has introduced the Self-Employment Income Support Scheme (SEISS).
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