Income Tax (IT) key measures included in Budget 2021 are as follows:

National Insurance

Savings income

Trading Losses

There will be a temporary extension to the loss carryback period. Trading losses can be carried back up to three years (instead of the usual one year) for a maximum of £2 million of tax losses.


Tax relief

Useful guides on this topic

Budget 2021: Subscriber guide
A detailed guide with links to more detail on all the key topics for SMEs and their owners.

Budget 2021: At a glance
A summary of key budget announcements together with items published without announcement.

Losses, trade losses and sideways relief
How can trade losses be utilised? What are the restrictions?


Small acorn
If you like our content come and join us.

Thousands of accountants and advisers and their clients use as their primary TAX resource.

Register with us now to receive our unique FREE Tax Planning Tips and Advice Guide & our FREE OMB Newsletter.