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2021 Budget briefing: tax changes

04 Mar 2021
After an eagerly awaited budget (with huge speculation on what it might contain) what did we learn about tax changes? Many thought tax rates would go up, but in fact the manifesto pledges for income tax, national insurance and VAT have been respected: those rates, plus capital gains tax and inheritance tax rates, are unchanged. (The only increased rate was for corporation tax.)
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Government policy paper 'Build Back Better' published alongside Budget documents

03 Mar 2021
At the Spending Review 2020 and in the National Infrastructure Strategy (NIS) the UK Government already announced a record amount of capital and infrastructure investment. Published alongside the Spring Budget is the policy paper: Build Back Better: our plan for growth. This now sets out how the investment will help the economy to recover post COVID-19 and lay the foundations for long-term sustainable growth. A key component of the plan for growth is investment in "high quality infrastructure". 
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Relief for retailers as Chancellor's Budget announces a package of welcome measures

03 Mar 2021
Following a year in which the retail industry has been one of the hardest hit sectors by the coronavirus pandemic, there was some welcome relief today when the Chancellor's widely previewed budget was announced. It includes a package of measures to help retailers to get back on their feet once non-essential retail reopens on 12 April 2021 under the government's planned roadmap.

Spring Budget 2021 – pensions changes

03 Mar 2021
n today's Budget, the Chancellor has announced that the lifetime allowance (LTA) for pension savings is being frozen at its current level of £1,073,100 until April 2026. This marks a change from recent years, when the LTA has increased in line with inflation since it was re-set to £1m in 2016/17.

Freeports will be a vital boost towards the UK's post COVID-19 economic and social recovery

03 Mar 2021
We are highly supportive of the government's Freeport initiative and the Chancellor's announcements today in relation to the creation of eight new style Freeports across the UK. The decision shows a real willingness to take concrete steps along the long road to levelling up the country. It will provide a vital boost towards the regeneration of parts of the country which need it most and also support their post COVID-19 economic and social recovery.