Spring Budget 2021: personal allowance & higher rate threshold
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.
Taxation of banking
This Commons Library briefing looks at the public debate over the tax treatment of the banking sector in the wake of the 2008 financial crisis, before discussing the different approaches taken in successive years by Labour, Coalition and Conservative Governments.
Autumn Budget 2021 and Finance (No.2) Bill 2021-22
The Chancellor Rishi Sunak presented the Autumn 2021 Budget on 27 October. The Finance (No.2) Bill 2021-22 was published on 4 November.
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Research Briefing
The High Income Child Benefit Charge
The High Income Child Benefit Charge provides for Child Benefit to be clawed back through the tax system from families where the highest earner has an income in excess of £50,000, to be withdrawn completely where that person has an incomes of over £60,000.
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Research Briefing
Coronavirus: Support for businesses
An overview of initiatives to support businesses through the coronavirus pandemic.
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Research Briefing
The growth in short-term lettings (England)
This paper examines the growth in short-term lettings and calls for greater regulation of the sector in England. It provides a brief overview of the regulatory approaches in other countries.
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Debate Pack
Opposition day debates: VAT on household energy bills, and Reducing costs for business
This landing page provides material for two Opposition day debates: the first on VAT on household energy bills, the second on reducing costs for business, to be held on 11 January 2022.
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Research Briefing
Autumn 2021 Budget: Basis period reform
In the Autumn 2021 Budget the Government announced that it would reform income tax 'basis periods' so businesses’ profit or loss for a tax year would be the profit or loss arising in the tax year itself, regardless of its accounting date.
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Research Briefing
Coronavirus: Self-Employment Income Support Scheme
To support the self-employed through the coronavirus outbreak the Government has introduced the Self-Employment Income Support Scheme (SEISS).
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Research Briefing
The Budget and the annual Finance Bill
This paper discusses the way that Parliament scrutinises the Government's proposals for taxation, set out in the annual Budget statement. It looks at how this procedure may be affected by the timing of a General Election, and the decision in 2017 to move the Budget from the Spring to the Autumn. It also provides some suggestions for further reading.
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Research Briefing
National Insurance numbers (NINOs)
This note discusses the process by which National Insurance numbers (NINOs) are allocated and the uses to which they are put, before discussing the background to the introduction of the 'Right to Work' test for individuals requiring a NINO for employment purposes.
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Research Briefing
VAT on tourism
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.
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Research Briefing
Autumn 2021 Budget: Economic Crime (Anti-Money Laundering) Levy
In the Autumn 2021 Budget the Government announced it would introduce a new levy to raise approximately £100 million per year to help fund anti-money laundering and economic crime reforms.
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Constituency Casework
Getting a National Insurance number (NINO)
How National Insurance numbers are issued and what to do if someone does not have one or can’t find it.
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