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.

Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.