2021 Spring Budget Analysis

Set out in a time of ‘challenge and change’, the 2021 Budget included some key new policies and measures to begin to navigate out in the wake of COVID-19. As the Government continues its unprecedented spending to support the economy and jobs, the Chancellor has announced his first measures to promote a recovery while addressing the growing deficit. These included:

• Ongoing support measures for businesses to secure their survival and emergence from the pandemic
• An increase in Corporation Tax rates to 25% from April 2023
• A new super deduction of 130% for investment in plant and machinery
• The announcement of 8 new freeports across England attracting a wealth of tax incentives for new investment

We’re pleased to deliver our initial response to the key tax implications from today’s announcements in our full report which you can access via the links below.