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Autumn Budget 2021 highlights

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Autumn Budget 2021 highlights

The Autumn Budget 2021 was billed as a Budget for a new age.

The main announcements are listed below. Our comprehensive analysis of all the announcements and the technical changes will follow shortly.R&D tax relief extended to include cloud computing and data but to be restricted to domestic activity from 2023 A post-Brexit reform to the Tonnage tax regime Several business rates reforms including revaluations every three years, a new ‘improvement relief’ and a cancellation of the 2022 multiplier. Alongside this a 50% business rates discount for retail, leisure and hospitality businessesAnnual Investment Allowance of £1m extended to March 2023UK Residential property development to be taxed at 4% on profits exceeding an annual allowance of £25m to fund £5bn for renovationTax relief for arts sector doubled to 2023 and museums tax relief extended to 2024Alcohol duty rates reformed from February 2023 to simplify the regime and focus on healthNational Living wage to rise to £9.50/hour next yearUniversal credit reform “to make sure work pays” with taper reduced to 55p/£1 by 1 DecBank Levy cut to 3% so banks pay 28% from 2023.

Join our personal, business and employment tax specialists as they analyse the Chancellor’s announcement.

Our webinar will take place the morning after the Budget and will focus on what the announcement means for you and your business.
REGISTER NOW
28 OCTOBERBudget 2021 webinar

10:00 – 11:00am
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JON HICKMAN
Tax Partner
Join our personal, business and employment tax specialists as they analyse the Chancellor’s announcement.

Our webinar will take place the morning after the Budget and will focus on what the announcement means for you and your business.

REGISTER NOW

28 OCTOBER
Budget 2021 webinar

10:00 – 11:00am

JON HICKMANTax Partner

Jon has many years of experience dealing with both OMB’s and large international businesses. He advises management teams, shareholders and their businesses.
 
CONTACT JON

Supporting you in the new reality
We want to reassure you that BDO continues to provide the level of service you expect from us whether our staff are office-based or working from home.  We are fully equipped and have the technology in place to access our systems securely.
 
If you have any specific business challenges or opportunities,
please speak to your BDO contact or access a wealth of advice and
guidance on our Rethink hub.


Jon has many years of experience dealing with both OMB’s and large international businesses. He advises management teams, shareholders and their businesses.
 CONTACT JON
Supporting you in the new reality

We want to reassure you that BDO continues to provide the level of service you expect from us whether our staff are office-based or working from home.  We are fully equipped and have the technology in place to access our systems securely.
 
If you have any specific business challenges or opportunities, please speak to your BDO contact or access a wealth of advice and guidance on our Rethink hub.VISIT THE HUB

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