Tax—Finance Bill 2021 tracker
Tax—Finance Bill 2021 tracker

The following Tax practice note provides comprehensive and up to date legal information covering:

  • Tax—Finance Bill 2021 tracker
  • Progress of FB 2021
  • FB 2021—measure by measure

This Practice Note contains information on the Finance Bill 2021 (FB 2021), detailing its progress through Parliament to Royal Assent and describing its key provisions. It tracks the passage of the legislation through Parliament to its publication as an Act, and highlights key events and documents including published amendments relevant to the progress of the legislation.

The tracker is split into two parts:

  1. Progress of FB 2021

  2. FB 2021—measure by measure

For an overview of the provisions of the draft FB 2019–20 published on 11 July 2019, see News Analysis: Draft Finance Bill 2020–21—Tax analysis.

For comprehensive tracking of the consultations mentioned, see: Tax—consultation and legislation tracker.

Progress of FB 2021

This part of the Practice Note shows the progress of FB 2021 through Parliament.

DateBill stageBill version
21 July 2020Draft legislation publishedDraft

FB 2021—measure by measure

Clause and subjectDate of implementationFurther informationDevelopmentsAnalysis
Changes to the treatment of termination payments and post-employment notice pay for Income Tax6 April 2021Provides an alternative post-employment notice pay (PENP) calculation where an employee’s pay period is defined in months, but their contractual notice period or post-employment notice period is not a whole number of months.
The measure also aligns the tax treatment of PENP for individuals who are non-resident in the year of termination of their UK employment

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