Looking ahead

On 9 December the Government will publish draft clauses planned for inclusion in the Finance Bill 2011. This fulfils the Government's pledge to publish draft clauses for each Finance Bill at least three months in advance. The change forms part of the Coalition's new approach to tax policy making, which is supposedly based on 'predictability, stability and simplicity'.

At the same time, the Government will also report back on several key consultations including:

• Tax policy making: a new approach
• Simplification of Corporate Capital Gains for companies
• Pensions Annuitisation
• Furnished Holiday Lettings and
• The review of HM Revenue and Customs' powers.

The Chancellor has already announced that the 2011 Budget will take place on 23 March. While it is unclear exactly what new measures will be included, there are some changes that have already been announced for the 2011/12 tax year. These include an increase in the personal income tax allowance, a rise in national insurance contribution rates, and a reduction in the corporation tax rate.