Introduction
- Welcome to this special newswire. In this edition we focus on the Chancellor’s March Budget.
- The Headlines are given below and in the the link “Read More”.
Chancellor “Levels Up” with us on Tax
- CJRS furlough scheme extended to 30 September
- Self-employed income support grants also extended
- Corporation tax rates to increase
- Super-deduction for investment in new equipment
- Three year carry back of trading losses
- No changes to income tax rates and personal allowance frozen
- National insurance rates
- 5% VAT rate for food, attractions and accommodation extended
- VAT registration limit frozen at £85,000 until 1 April 2024
- Making tax digital extended to all VAT registered businesses from 1 April 2022
- New grants for high street businesses and hospitality sector
- New recovery loan scheme
- SDIT thresholds extended
- 5% mortgage schemes extended
- Apprenticeship schemes extended
- Eight new freeports announced