Draft legislation for inclusion in Finance Bill 2021 has been published, including measures to tackle abuse in R&D Tax Credit claims and the Construction Industry Scheme, as well as introducing a new plastic packaging tax
The measures cover:
The consultation on draft clauses will close on 7 January 2021.
Other draft legislation for this Finance Bill was published on 21 July 2020, covering:
At that point, the Bill was expected to be Finance Bill 2020-21 and this was reflected in the published documents, but the draft legislation will now be in the 2021 Bill
The final contents of Finance Bill 2021 will be subject to confirmation at Budget 2021.
The Permanent Secretary at HM Treasury, Sir Tom Scholar, has confirmed that the next Budget will be held in March 2021. The date was revealed during a Public Accounts Committee meeting, although the exact date in March has not yet been announced.
HMRC keeps a list of ongoing tax policy consultations.