Autumn Budget 2021

Chancellor, Rishi Sunak, has announced the Government’s tax and spending plans for the year ahead. The focus here was clearly on investment to back further economic growth in a post covid era.

The Government had already announced the increase in corporation tax rates from 1 April 2023 and the additional increase of 1.25% in National Insurance and Dividend Tax from 6 April 2022. It’s welcome news that there has been no announcement to an increase in capital gains tax and no major changes to pension tax relief today.

The Government does seem to be holding back on major reform to see how this post pandemic landscape pans out, especially in relation to concerns over inflation and increased borrowing costs.

With few consultations it’s hard to know what the future of taxation post pandemic looks like, but we can all be sure it will be changing more in the future.

Below, we explore some of the announcements made today in more detail:

Click to read our full roundup: Autumn Budget Statement 2021 | LB Group (lbgroupltd.com)