Finance Bill 2021 committee stage preview

MPs begin debating the Finance Bill in committee today. Committee of the Whole House will take place on Monday 19 and Tuesday 20 April, with public bill committee commencing on Thursday 22 April.

Committee of Whole House

First day – Monday 19 April

Committee proceedings on the Bill will commence around 6pm, following two statements and a short debate on a resolution on Freeports (Stamp Duty Land Tax) 

• Family finances (including personal allowance freeze and covid-support measures)

Clauses 1 to 5, 24 to 26, 28, 31 to 33, 40 and 86
(until 2 hours from commencement of proceedings on the Bill on the first day)

• Corporation tax and the super deduction

Clauses 6 to 14 and Schedule 1
(until 4 hours from commencement of proceedings on the Bill on the first day)

• Regional economic development (freeports)

Clauses 109 to 111 and Schedules 21 and 22
(until 6 hours from commencement of proceedings on the Bill on the first day)

Second day – Tuesday 20 April

Proceedings on the Bill will commence shortly after 12.40pm, or later if (as is likely) there are one or more statements or urgent questions

• Tax evasion and avoidance (including CIS changes and promoters legislation)

Clause 30 and Schedule 6; Clause 36 and Schedule 7; Clause 41; Clause 115 and Schedule 27; Clauses 117 to 121 and Schedules 29 to 32
(until 2 hours from commencement of proceedings on the Bill on the first day)

• Property taxation (including Stamp Duty Land Tax)

Clauses 87 to 89 and Schedules 16 and 17; Clauses 90 and 91
(until 4 hours from commencement of proceedings on the Bill on the first day)

• Support to business (including VAT reduced rate)

Clauses 92 to 96 and Schedule 18; Clause 97 and Schedule 19; Clauses 128 to 130
(until 6 hours from commencement of proceedings on the Bill on the first day)

The business to be debated in each group also includes any new clauses or schedules related to the subject matter of the existing clauses in that group.

Public Bill Committee

There will be up to 10 sittings of the public bill committee on the Finance Bill, commencing Thursday 22 April and potentially running until Thursday 6 May. Due to the number of clauses being debated in Committee of Whole House and the likely desire of MPs not to be in Westminster during election week (first week of May) our best guess at how the sessions will go is as follows. Note that this is very much guesswork and it could go significantly slower or faster than this!

Thursday 22 April
Session 1: 11.30am (finish by 1pm) (best guess – clauses 15-20 – capital allowances, business reliefs, R&D)
Session 2: 2pm (finish by 4pm usually) (best guess – clauses 21-35 – employment income inc off-payroll working)

Tuesday 27 April
Session 1: 9.25am (finish by 11.25am) (best guess – clauses 37-85 – plastic packaging tax)
Session 2: 2pm (finish by 4pm usually) (best guess – clauses 98-108 – duties, APD, environmental taxes)

Thursday 29 April
Session 1: 11.30am (finish by 1pm) (best guess – clauses 112-132 – penalties, repayment interest, financial institution notices)
Session 2: 2pm (finish by 4pm usually) (best guess – new clauses)

Tuesday 4 and Thursday 6 May – sessions scheduled but may not be needed.

Amendment papers and other publications relevant to the Bill can be downloaded here.

The CIOT/ATT External Relations Team will be liveblogging on the CIOT website throughout committee stage.