Goodman Jones Autumn Budget Summary 2021

Rishi Sunak was clearly determined to deliver an upbeat positive Autumn Budget message this year following the dark months of the pandemic. Much of the news of tax rises had already been announced prior to the budget and in the Spring, leaving him free rein to press home his key messages of investing in growth and support for businesses; advancing global Britain, seizing the opportunities of Brexit; building back greener and delivering for all parts of the UK.

Welcome announcements included increasing research and development support, extending the higher annual investment allowance limit, reductions in business rates for the high street and increases in the cultural tax reliefs.

As well as the many giveaways there were increases in national insurance and dividend tax, the new residential property developer tax, the economic crime (AML) levy and reforms to the basis period of assessment for unincorporated businesses.

As usual there is a lot more detail in the Treasury press releases. Please see our summary of the budget announcements for further information.

0
Comment on this...

Richard Verge - Tax Director

E: rverge@goodmanjones.com

T: +44 (0)20 7874 8856

View Richard's Linkedin profile

Richard is a personal tax expert and is able to advise high net worth individuals on either immediate tax concerns or a long term plan to ensure that their affairs are structured to take advantage of the tax reliefs available.

His experience from working with HMRC ensures that he is more than adept at understanding the view from the other side, to the benefit of his clients. Richard advises entrepreneurs, owners of family businesses and partners in professional practices and provides advice on planning from both a personal and worklife perspective.

Share your thoughts

Your email address will not be published. Required fields are marked *

All fields are required