Finance Bill 2021-22 released after first reading
04 November 2021
The Finance bill 2021-22 has been released by HM Treasury detailing the changes described within the Budget last week. The bill had its first reading in parliament on 2 November 2021 and will not follow normal process through the parliamentary system.
The Finance Bill 2021-22 confirms the increase of normal minimum pension age from 55 to 57. This change will come into effect from 6 April 2028.
Other items within the bill are:
• UK tonnage tax reform
• Museum, galleries, theatres and orchestra tax relief
• Annual investment allowance cap extension
• Residential property developer tax
• Simplifying the basis period rules for self-employed and small businesses
• Measures to clamp down on tax avoidance
The date for a second reading is yet to be announced.
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