Date15 Mar 2021
In the latest Budget speech, the Chancellor attempted to strike a balance between continuing to prop up the businesses worst affected by COVID-19, while setting out a roadmap to wean the UK economy off this emergency support.
Sunak resisted the urge to start raising the main taxes in a bid to rebuild the UK economy and tattered public finances, however, his hands were somewhat tied by the Conservative election manifesto of 2019, which pledged not to raise the rates of income tax, National Insurance contributions or VAT until 2024.
Overall, the Chancellor is still clearly in spend mode, but with hints of what might be waiting down the road as the UK economy starts to recover and the national debt demands to be paid.
Our 2021 Full Budget Summary
We have pleasure in attaching our analysis of the key announcements in the Chancellor's 2021 Budget. We hope you find it useful and interesting.
To read our full 2021 Budget Summary, please click here.
Want to know more?
Our website is regularly updated with the latest news, insight and details of the economic support and measures as they are announced by Government.
Across all areas of Tax, our experts have been reflecting on the 2021 Budget announcements, releasing further insights exploring the changes. To view additional details of the Chancellor’s announcements, please use the following links:
Have you been affected by the Budget?
If you have any queries regarding the Budget 2021 announcements and the impact they may have on you or your organisation, please get in touch with your usual Azets contact or a member of our Tax team.
Watch our webinar
On 4 March 2021, our expert advisors explored the technical issues arising from the 2021 Budget and provided a practical assessment of the key announcements and their impact for both businesses and individuals. As ever with the Budget, the devil was in the detail. Our presenters also highlighted issues the Chancellor may not have made obvious in his address to Parliament.
To watch our webinar recording and download a copy of our slides, click here.