UK Budget 2021
- ACCA Budget Reaction
- ‘Fragmented’ budget does not give businesses certainty
- Download and share key guides to Budget 2021
- Extra support for apprenticeships is extended
- Temporary incentive payments introduced in 2020 will be increased to £3,000 and continue until September
- SME Brexit Support Fund helps prepare businesses
- Grant offers £2,000 towards professional advice and training on import and export rules including VAT
- Employment Allowance set to continue
- Businesses will not to have to pay employer’s NIC on the first £4,000, so take care when you claim!
- Changing your year-end/period of account? Don’t forget ‘overlap relief’
- This relief could help cashflow for small businesses when they need it most
- Stamp duty land tax surcharge for non-UK residents
- Non-UK residents to pay additional SDLT on residential property purchases from April 2021
- Employers of ex-military get national insurance holiday
- Relief applies to recruitment of former members of the UK regular armed forces
- Don’t miss the 1 April tax payment deadline
- If you benefited from HMRC’s filing extension, make sure you avoid the 5% penalty
- Free webinars offer support in key technical areas
- ACCA UK’s practitioner series covers hot topics from Covid-19 and data protection to cross border VAT
- UK Budget 2021: economic overview
- The success of the Covid-19 vaccination programme has bolstered the prospect of a strong rebound
- MTD for VAT: end of the soft-landing era
- Systems must be compliant for MTD from 8 April
- VAT round-up
- Temporary VAT rate reduction extended until September
- Corporation tax to rise – marginal rate relief returns
- Small profit and main rates of CT make a come-back, along with marginal rate relief
- Plastic packaging tax will be introduced this year
- New regulations could lead to 200,000 tonnes of carbon savings in 2022-23 and increase use of recycled materials by 40%
- More grants via the Self-employed Income Support Scheme
- The latest round of grants for the SEISS has been announced, with more applicants potentially qualifying.
- Extension to the Coronavirus Job Retention Scheme
- An extended version of the CJRS provides further support for employees until the end of September
- Home office income tax and NIC exemption extended
- Employers will not be required to report reimbursed expenses when employees need to buy equipment
- Capital allowances and other new reliefs
- AIA has already been extended to 31 December 2021. Enhanced super-deduction reliefs now available for certain investments
- Sunak puts you front and centre again!
- The chancellor hit a home run today in the Budget for the future of the UK economy.
- Maintaining annual exempt amount for capital gains tax
- A freeze on the annual exemption amount to 2026!
- New VAT penalty regime
- Reform of existing regime with a £200 points-based late submission penalty
- Gift Hold-Over Relief to be restricted
- Business assets given to foreign-controlled companies may not be eligible for capital gains tax relief
- Freeze coming on pension lifetime allowance
- Plan ahead – there is a freeze coming from 2021 to 2026
- Stamp Duty Land Tax relief for Freeports
- Know the rules as there are control requirements
- Research & Development tax reliefs
- Anti-abuse measures for SMEs R&D tax relief and R&D reform with more on the horizon.
- Temporary extension of losses carry-back for businesses
- Extension of the period for trading losses carry-back to get a refund
- Pensions update – all you need to know
- Updates to annual, lifetime and tapered annual allowances and more
- Easement continues for employer-provided bike tax exemption
- Cycle to Work scheme’s qualifying journeys condition for employees will not be reintroduced until 2022.
- Income tax roundup
- Here’s our guide to the changes for 2021, including a personal allowance freeze and COVID-19-related exemptions
- Investor tax incentives
- Extended tax incentives for social investment initiatives
- Inheritance tax bands to freeze for five years
- Thresholds on the nil-rate, and residence nil-rate and taper, will be fixed until 2026
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