The Finance Act 2021 (No. 45) enacts key aspects of the Budget 2022 fiscal package, addressing the economic repercussions of COVID-19. It revises income tax bands and credits, adjusts Universal Social Charge (USC) thresholds, and enhances relief schemes for remote working arrangements. Notably, the Help to Buy scheme is extended, while property-related tax provisions are updated, refining regulations surrounding rental income and capital allowances.

On the corporate front, the Act introduces preliminary measures in line with the OECD's Pillar Two, augments anti-avoidance stipulations, and modernises transfer pricing rules for SMEs. It reinforces research and development tax credits, updates controlled foreign company rules, and addresses hybrid mismatch issues. VAT changes also focus on supporting small businesses and conforming with EU e-commerce guidelines, alongside adjustments in excise and carbon taxation reflecting climate policy. The Act further enhances Revenue's investigative capabilities and compliance frameworks, thereby supporting economic recovery and competitiveness.