The Chancellor delivered his second Budget, and another ‘Spring’ one at that, on 3 March.
As is standard practice, we listened in to his speech and pored over the raft of documents that followed to bring you our Budget Summary, which you can read in full here.
The key announcements included:
- A temporary capital allowances ‘super-deduction’ for companies, worth 130% of qualifying expenditure.
- Further extension of Coronavirus support for businesses and individuals.
- Personal Allowances and Income Tax bands frozen for at least 4 years from 5 April 2022.
- Corporation Tax increased to 25%, for companies with profits exceeding £250,000, from 1 April 2023.
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