Finance Act 2021

The Finance Act 2021 received Royal Assent on 10 June. Indirect tax measures include the plastic packaging tax, the extension of the temporary reduced VAT rate, and new rules on distance sales involving Northern Ireland. The Act also addresses penalties for failure to repay VAT which was deferred in response to COVID-19, and sets out the new points-based penalty system which will apply to VAT from April 2022. There have also been various new statutory instruments relating to indirect tax.