Land and Property measures including Stamp Duty Land Tax (SDLT), Annual Tax on Enveloped Dwellings (ATED) and Business Rates included in Budget 2021 are as follows:
SME Tax News
Income Tax (IT) key measures included in Budget 2021 are as follows:
The Budget 2021: at a glance. A summary key budget announcements together with items published without announcement.
This is a subscribers' guide.
Key measures on Capital Allowances included in Budget 2021 are as follows:
Capital Gains Tax (CGT) key measures included in Budget 2021 are as follows:
UK Corporation Tax; key measures included in Budget 2021 are as follows.
Chancellor Rishi Sunak made his Budget 2021 speech on 3 March 2021, the highlights of the speech as as follows:
Highlights
- Corporation tax will increase to 25% from 2023, very small companies are unaffected.
- The Stamp Duty Land Tax (SDLT) nil rate break extends until September.
- Large grants for hospitality industry which also benefits from extended VAT rate reduction.
- Tax allowances are frozen until 2026.
- VAT theshold frozen until 2024
- Business Rates: three months 100% holiday, nine months 66% relief with cap
- Various coronavirus support measures including new grants.
In Roger Preston Group Limited v HMRC [2021] TC08025, the First Tier Tribunal (FTT) upheld the appellant's appeal to have the amortisation of its intangible asset allowed for corporation tax purposes.
HMRC have published 'UK charity tax statistics commentary: April 1990 to April 2020'. The statistics release is the annual update of reliefs claimed by charities and individuals following a charitable donation.
Missed our SME Tax Web-updates in February? Here is a summary of the month.