Corporation tax
Corporation Tax is set to increase to 25%, in April 2023. The rate will remain at 19% for businesses with a profit of less than £50,000....
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Tax thresholds frozen
The government will not increase income tax, national insurance, or VAT, but will freeze personal tax thresholds. The personal allowance...
Mortgage guarantee
A mortgage guarantee has been introduced to help first time buyers achieve 95% mortgages.
Stamp duty
The stamp duty holiday has been extended to the end of June. It will be kept at double it’s standard level until September and return to...
Reduced VAT rate
The 5% VAT rate will be extended until the end of September. The rate will gradually be increased, with a 12.5% VAT rate for six months,...
Rates reductions
Hospitality and leisure businesses will pay no business rates for the first three months of this financial year, with a discount for the...
Loan scheme
As the bounce back loan and corona-virus business interruption loan scheme come to a close, there is a new loan scheme in their place,...
Self employment income support scheme (SEISS)
The self employment income support scheme has been extended, to include the self employed who submitted a 2019/20 tax return. There will...
Furlough scheme extension
The furlough scheme has been extended for six months, to September 2021. There will be a gradual phase out, with the employer having to...
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