Rishi Sunak has confirmed that the 2021 Finance Bill will be announced to parliament when the Chancellor presents his annual Budget speech, Wednesday 3rd March 2021.

The aim is to set out Treasury plans to tackle the effects of the COVID epidemic, protecting businesses and jobs, and will include the latest forecasts from the Office for Budgetary Responsibility.

Which will leave just four weeks for practitioners to act on any planning opportunities that arise before the end of the tax year, 5 April 2021.

We will ensure that a summary of relevant points will be added to our newsfeeds immediately following the budget speech and we will be producing our usual range of information sheets, tax cards and tax book for 2021-22 as well as maintaining developing commentary on the budget contents to ensure you and your contacts are kept up to date.

It is difficult to see how tax increases could be made – to rebalance the Treasury books – without further depressing economic activity at this difficult time.

Much will depend on the vaccines and their effectiveness in reducing the need for social distancing and lock-down.

Source: New feed