Finance (No. 2) Bill — Second Reading — 13 Apr 2021 at 20:17

The majority of MPs voted for a range of tax and pensions provisions including keeping key income tax rates and thresholds unchanged and to increase the main rate of Corporation Tax from 19 to 25% from 2023.

MPs were considering the Finance (No. 2) Bill.[1][2][3]

The motion supported by a majority of MPs in this vote was:

  • That the Bill be now read a Second time.

The passing of this motion enabled the Bill to continue on its path to becoming law.

The Bill included provisions:

  • to impose income tax during the tax year 2021-22.
  • to set the 2021-22 rates for income tax at: Basic rate - 20%; Higher rate - 40%; Additional rate - 45%. (No change on the previous year).
  • to increase the tax rates on taxed dividend income.
  • to retain the threshold for starting to tax interest on savings at £5,000.
  • to set the thresholds for starting to pay income tax, and for starting to pay income tax at the higher rate at £12,570 and £37,700 respectively for 2022-2026.
  • to set the main rate of Corporation Tax for the financial year 2022 at 19% and the main rate of corporation tax for the financial year 2023 at 25%

The rates for starting to pay income tax, and for starting to pay income tax at the higher rate, for 2021-22 were £12,570 and £37,700 respectively, so were unchanged.[4]

The main rate of Corporation Tax had been 19% since 2017.[5]


Debate in Parliament |

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Party Summary

Votes by party, red entries are votes against the majority for that party.

What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.

What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.

What is Turnout? This is measured against the total membership of the party at the time of the vote.

PartyMajority (Aye)Minority (No)BothTurnout
Alliance0 10100.0%
Con358 (+2 tell) 0098.9%
Green0 10100.0%
Independent0 40100.0%
Lab0 194 (+2 tell)098.5%
LDem0 110100.0%
PC0 30100.0%
SDLP0 20100.0%
SNP0 440100.0%
Total:358 260098.9%

Rebel Voters - sorted by party

MPs for which their vote in this division differed from the majority vote of their party. You can see all votes in this division, or every eligible MP who could have voted in this division

Sort by: Name | Constituency | Party | Vote

no rebellions

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