8
Mar

Spring Budget 2021: what’s the latest on R&D tax relief?

In last week’s Budget, the government confirmed its commitment to ensuring the UK remains a competitive place for cutting-edge research. Although the Chancellor didn’t uncover any extensive or immediate changes to R&D relief in his Budget speech, he did announce the previously announced SME cap will go ahead, and that the government will carry out…

5
Mar

Hospitality and retail firms to get £5bn for new Restart Grants

Chancellor Rishi Sunak has announced a £5bn Restart Grant scheme to help any small business badly impacted by Covid-19 – and support them as they get ready to reopen. The multi-billion pound package of support will replace the monthly Local Restrictions Support Grant (for open and closed businesses) due to end later this month, and…

5
Mar

Budget 2021: Updates

This week, the Chancellor delivered the government’s Budget for 2021. Mr Sunak announced extensions to a number of the current COVID-19 schemes, as well as additional support for individuals and businesses. Below is a breakdown of some of the key measures for employers. To get the full details on all of Budget 2021 measures announced…

5
Mar

Plymouth confirmed as one of first tax-break freeport sites

The creation of eight freeport zones across the UK has been announced in this week’s budget. While many of the freeports are situated in the North of England, Plymouth’s bid to become one of the Government’s first tax-break freeports has been successful. The remaining freeports announced will be located at East Midlands Airport, Felixstowe and…

5
Mar

UK Budget 2021: corporation tax rate set to rise to 25% from 2023, but ‘super deduction’ also announced by Chancellor

In this week’s Budget, it was announced corporation tax rate will rise to 25% from 2023 to help pay back the UK’s riding debts; but a temporary 130% ‘super deduction’ capital allowance on qualifying plant and machinery investments will be available. Corporation tax rate changes in 2023 Chancellor Rishi Sunak has confirmed plans to raise…

18
Feb

What can businesses expect from the Chancellor’s 3rd March Budget?

To say that the UK’s upcoming Budget will be a critical one for British businesses would be something of an understatement. However, the challenge facing Chancellor of the Exchequer Rishi Sunak with his second Budget won’t just be to steward the UK economy through what remains of the COVID-19 crisis, but also to look well…