Posted on:U.K. Tax
On 3 March 2021, Chancellor Rishi Sunak delivered the Spring 2021 Budget. Unsurprisingly, the main focus of this Budget was on providing continued Covid-19 related support measures for the UK economy as the country embarks on the roadmap out of lockdown.
It was anticipated that the Chancellor’s Budget day tax announcements might be limited, following the decision of the Government to hold a “Tax Day” on 23 March, when it plans to publish a range of documents relating to long-term changes in Government tax policy, which would usually have been published on Budget day. In addition, there was also speculation that the Chancellor would hold back many significant measures until the planned Autumn Budget later this year.
However, despite this, the Spring Budget did include some significant tax-related announcements. More detail will be available when the Finance Bill is published on 11 March.
We have summarised below the tax measures that are likely to be most relevant to our clients. It is not a comprehensive summary and does not cover (in particular) the COVID-19 support packages or measures primarily relevant to individuals, small businesses, or specific industries.
If you would like to discuss any of the following, or if you have any clients/target clients to whom the changes are likely to be relevant, please contact one of the tax team and we will be happy to assist.
If you would like more information about the topics raised in this briefing, to discuss any of the above, or if you have any clients/target clients to whom the changes are likely to be relevant, please contact one of the tax team below and we will be happy to assist.