2021–22—Budget and Finance Bill

ARCHIVED: This Overview has been archived and is not maintained.

This subtopic draws together content on the fiscal events throughout the tax year 2021–22 starting with the publication of draft provisions for Finance Bill 2022 (also known as Finance Bill 2021–22) to the passage through parliament of Finance Act 2022 (FA 2022). 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—Tax analysis [Archived].

Finance Bill 2022

Finance Bill 2022 (FB 2022) (officially known as the Finance (No 2) Bill, because it is the second Finance Bill of the 2021–22 Parliamentary

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Latest Tax News

Finance Bill 2025 update: Public Bill Committee to begin in January

The Public Bill Committee is expected to begin scrutiny of the Finance Bill on 28 January 2025. Comments on the Bill are invited before then, and revised explanatory notes have been issued to cover the Government’s proposed Pillar 2 amendments.

FTT considers meaning of interest and decides that an element of redress payments constituted interest (NHS Mid & South Essex ICB and others v HMRC)

Tax analysis: In NHS Mid & South Essex ICB and others, the First-tier Tax Tribunal (FTT) decided that an element of the NHS continuing healthcare (CHC) redress payments constituted interest for the purposes of section 874 of the Income Tax Act 2007 (ITA 2007) and, furthermore, that the interest constituted yearly interest or was treated as yearly interest under ITA 2007, s 874(5A) since the interest was payable to individuals in respect of compensation.

Tax weekly highlights—19 December 2024

This week's edition of Tax weekly highlights includes: (1) the House of Commons committee debating (but not amending) clauses of the Finance Bill 2025, (2) the NICs Bill passing the House of Commons stages without amendment, and (3) the Spring Forecast to be published on 26 March 2025.

FTT applies carried-forward losses anti-avoidance rule (Blackfriars v HMRC)

Tax analysis: In Blackfriars Hotel (UK) Holdings Ltd, the First-tier Tax Tribunal (FTT) held that the anti-avoidance ‘loss refresh’ provisions of Part 14B of the Corporation Tax Act 2010 (CTA 2010) applied to disallow relief for pre-April 2017 carried forward loan relationship deficits against profits arising from tax arrangements entered into by the company.