2021–22—Budget and Finance Bill

ARCHIVED This archived Overview draws together content on the fiscal events throughout the tax year 2021–22 starting with the publication of draft provisions for the Finance Bill 2022 (FB 2022) to the passage through parliament of the Finance Act 2022 (FA 2022). It is not maintained and is for background information only. For more information on the annual Budget and Finance Bill process, see Practice Note: The Budget and Finance Bill process.

All the analysis produced in this topic will be collected in Practice Note: 2021–22—Budget and Finance Bill—Private client analysis.

Finance Act 2022

FB 2022 (officially known as the Finance (No 2) Bill, because it ...

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Latest Private Client News

OSCR announces consultation on updated charity accounting framework

The Office of the Scottish Charity Regulator (OSCR) and other UK charity regulators launched a consultation on 28 March 2025 for an updated Statement of Recommended Practice (SORP) for charity accounting. The new framework, effective from January 2026, introduces a three-tier reporting system based on income levels, new environmental, social and governance requirements, and changes to income recognition and lease accounting. The 12-week consultation seeks input from charities, auditors, trustees and stakeholders to finalise the framework, which will be published in autumn 2025.

Fiduciary’s unauthorised profit—should counterfactual be applied? (Rukhadze v Recovery Partners...

Private Client analysis: This is a landmark decision of the Supreme Court on the liability of trustees and other fiduciaries to account for unauthorised profits. The issue concerns the role of causation and whether a counterfactual should be applied. Written by David Halpern KC, King’s counsel, 4 New Square.

Private Client weekly highlights—27 March 2025

This week’s edition of Private Client highlights includes: (1) Spring Statement 2025; (2) Ashimola v Samuel, an extraordinary case in which the court revoked the grant of letters of administration on the basis that the ‘deceased’ was alive; (3) analysis of the proposed reforms to inheritance tax agricultural property relief and business property relief and their application in relation to trusts; (4) two new consultations on tackling tax avoidance; (5) Rukhadze v Recovery Partners, a decision of the Supreme Court which upheld the strict application of the no profit rule; and (6) Discussion of the advantages and disadvantages of family investment companies for high net worth families.

Video analysis—Spring Statement 2025: Private Client perspective

Private Client analysis: In this LexisNexis® Practical Guidance video, Kelly Greig, Private Client Partner at Blick Rothenberg LLP, discusses the Spring Statement 2025 and its implications for Private Clients.

Most recent 2021–22—Budget and Finance Bill content

Practice notes

The Budget and Finance Bill process

The Budget and Finance Bill processThe Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating...

27th Mar

Q&As

When is the next Budget?

When is the next Budget?The timetable for Budgets was, in theory, reformed in autumn 2017. Under that timetable, a non-general election year should...

26th Mar

Practice notes