Draft Finance Bill 2021: supporting documents published

Released 12 November 2020

HMRC have published supporting documents for Finance Bill 2021 for consultation. The final contents of Finance Bill 2021 will be subject to confirmation at Budget 2021. The consultation period runs until 7 January 2021.

Supporting documents added include:

The tax impact of the withdrawal of LIBOR and other benchmark rates;

Amendments to the hybrid and other mismatches regime for corporation tax;

Preventing abuse of Research and Development tax relief for small and medium-sized enterprises;

Introduction of a new plastic packaging tax; and

Changes to tackle Construction Industry Scheme abuse.

Other draft legislation for Finance Bill 2021 was published on 21 July 2020.

The additional supporting documents can be found at Finance Bill 2021.

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