The LB Weekly Roundup - BUDGET SPECIAL - 5 March 2021 Artwork

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The LB Weekly Roundup - BUDGET SPECIAL - 5 March 2021

March 12, 2021 • Lewis Brownlee • Season 2 • Episode 7

In this webinar, our Managing Director Sarah Alexander and Tax Director Tom Foster discuss the key announcements from the Chancellor's Budget on Wednesday 3rd March!

MAIN PROPOSALS

Tax measures include:
› Super-deduction for companies investing in new plant and machinery
› Time extension of the temporary increase to the SDLT nil rate band for residential property in England and Northern Ireland
› Extension to the temporary 5% reduced rate of VAT for certain supplies
› Temporary increase in the carry-back period for business losses
› Increased rate of corporation tax from 2023.

Other measures include:
› New mortgage guarantee scheme
› Extension to the Job Retention Scheme
› Self-Employment Income Support Scheme fourth and fifth grant
› Extension to the business rates holiday in England.

Previously announced measures include:
› A cap on the amount of R&D tax credit paid to a loss-making small or medium-sized enterprise
› New rules apply to off-payroll working payments made for services provided on or after 6 April 2021 (see http://LBLink.uk/LBTP_IR35)

Further details can be found on our blog: www.lewisbrownlee.co.uk/blog

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