It seems like an age ago already, but it was only the 11th March when Chancellor Rishi Sunak presented his first Budget. Since then there have obviously been further announcements to cover support for the economy to try and offset the effects of COVID-19. We covered the key headlines of these announcements in our COVID-19 briefing earlier this week.
We have produced detailed briefings to provide you with key details on relevant information from the budget. For each of the key areas covered by the budget announcement we have developed fuller information in supporting PDFs.
Some of the core headlines from the Budget announcement include an increase in employment allowance, an increase in the rate of Structures and Buildings Allowance and an increase in the Research & Development expenditure credit.
Alongside these changes there was an announcement to increase and extend business rates discounts alongside extended access to Statutory Sick Pay for businesses impacted by COVID-19.
There were a number of measures already announced ahead of the Budget speech including increases in National Insurance thresholds and changes to the Principal Residence Relief.
And since the budget, the Government has also announced a deferment to April 2021 of the introduction of off payroll working for the private sector.
We have created PDFs covering Business taxes, Capital taxes, Employment taxes, Personal taxes and Other matters – we hope they will help give you the information you require, but any further questions then please do not hesitate to contact anyone within the team.
Links to other articles
There are more detailed articles on the website covering Greener Motoring changes, increases to NMW and NLW and changes to Capital Gains Tax on residential property.