There is no doubt that this has been one of the most anticipated Budgets in recent times. After a year seeing unique and significant fiscal policies that have supported the economy throughout Covid-19, there was pressure to see how the government would pay back the large amount of debt incurred during the pandemic, while maintaining an economic platform for growth. In addition there is the need to help businesses through the post-Brexit transition period.
The Chancellor announced his ‘Budget for recovery’ with a clear focus on continuing and enhancing the economic support for COVID-19 and the rebuilding of public finances to ensure a post-COVID-19 financial recovery and a stable economic future.
Our industry analysis is now live: Hotels, Restaurants and Bars, Manufacturing, Natural Resources, Professional services, Real Estate, Retail and Sports.
On 23 March 2021, billed as ”Tax Day”, the government launched a range of tax consultations to help implement its 10 year plan to make the UK tax system fit for the digital future.
Additional grants for self-employed announced.
Get our analysis of all business tax and support measures that you need to know about.
CJRS has been extended and new incentives to encourage employment and productivity.
VAT relief for hospitality and VAT Threshold freeze.
Business rate reform, measures to tackle COVID-19 fraud and an extension to the Stamp duty holiday.