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…

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…