Posted: 04 March 2021
Chancellor Rishi Sunak presented his second Budget to the House of Commons yesterday (3 March 2021). Burgess Hodgson Budget Summary reports on the key announcements and recent measures most likely to affect your business and personal finances.
Watch our knowledgeable panel of experts answer your questions on the budget here: www.youtube.com/watch?v=6Sed2n6E_Dg
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Thursday 4th March 2021 at 10am
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Posted: 17 December 2020
Furlough, self employed and loan schemes have been extended and the Budget date announced.
See the latest press releases at:
- Furlough scheme extended in substantially its current form to end April 2021 – the planned January review of the employer contribution will now not happen, the scheme will be unchanged (see extract below). The final details of this and the legislation are awaited, to see if there are any other amendments.
- Self employed scheme also to be extended to end April 2021
- Bounce back and CBILs loans now available to end March 2021
- Budget date set for 3 March 2021
“The Chancellor said he would review the employer contribution element of the CJRS in January, but decided to bring this forward to allow businesses to plan ahead for the remainder of the winter and the New Year.
The government will continue to pay 80% of the salary of employees for hours not worked until the end of April. Employers will only be required to pay wages, National Insurance Contributions (NICS) and pensions for hours worked; and NICS and pensions for hours not worked.
The Chancellor said he would review the employer contribution element of the CJRS in January, but decided to bring this forward to allow businesses to plan ahead for the remainder of the winter and the New Year.
The government will continue to pay 80% of the salary of employees for hours not worked until the end of April. Employers will only be required to pay wages, National Insurance Contributions (NICS) and pensions for hours worked; and NICS and pensions for hours not worked.”
Self employed scheme:
“The furlough and loan schemes are part of the government’s wider plan to support, create and protect jobs through its Plan for Jobs. This includes the Kickstart Scheme, more investment in training and skills as well as the Self Employment Income Support Scheme grant, with a fourth grant being made available from February to April 2021.”
“The government has already announced that more support will be available beyond March, through a successor loan scheme. More details of the scheme will be announced in due course, with the government providing a further update on wider Covid-19 economic support at the Budget on 3 March.”
If you have any questions on this please email firstname.lastname@example.orgRead More
Following the UK’s departure from the EU, Chancellor Rishi Sunak presented the 2020 Budget against a backdrop of economic uncertainty.
Our Budget Summary provides an overview of the key announcements arising from the Chancellor’s speech. However, it also looks beyond the headlines and offers details on the less-publicised changes that are most likely to have an impact upon your business and your personal finances. Additionally, throughout the Summary you will find informative comments to help you assess the effect that the proposed changes may have on you personally.
If you would like more detailed, one-to-one advice on any of the issues raised in the Chancellor’s Budget speech, please do get in touch with your normal Burgess Hodgson contact or email us at email@example.comRead More
The Chancellor’s 2019 Spring Statement gave the government the opportunity to consider the longer-term fiscal challenges ahead of Brexit, and initiate consultations on how these can be addressed.
Following this, Burgess Hodgson have put together a PDF which provides an overview of the updated forecasts for the UK economy and public finances, which we trust you will find useful.Read More
The Chancellor’s 2018 Autumn Budget contained some important announcements and confirmed a number of changes planned for the new tax year.
Following this, we have put together a PDF which contains the latest tax and financial information, which we trust you will find useful.Read More
The Chancellor’s 2018 Spring Statement gave the government the opportunity to consider the longer-term fiscal challenges ahead of Brexit, and initiate consultations on how these can be addressed.Read More
The Chancellor’s second Budget of 2017
CLICK BELOW TO DOWNLOAD OUR AUTUMN 2017 BUDGET SUMMARY:
The Chancellor has announced a steady as you go Autumn Budget.
The highlight of his mildly expansionary package was a new stamp duty land tax relief for first time home-buyers (outside Scotland). As long as the consideration for the property is no more than £500,000, first time buyers will pay no SDLT on the first £300,000 and above that they pay the normal rates.
It is worth noting that the Scottish Budget will be published on 14 December when their income tax plans for 2018/19 will be announced.Read More
To read our full summary of all of the key points and measures, follow this link – SPRING BUDGET 2017 SUMMARY.
Chancellor Philip Hammond’s first, and last, Spring Budget was delivered at a pivotal moment for the UK as it readies itself to begin the process of leaving the EU. The Chancellor will announce a second Budget in the autumn as the Treasury changes to the new financial cycle from 2018. (more…)Read More
Chancellor Philip Hammond delivered his bullish first – and last – spring Budget against the backdrop of Brexit and an economy that continues to confound the commentators with robust growth.
“We are building the foundations of a stronger, fairer, more global Britain,” he told a noisy House of Commons on International Women’s Day – a fact that Mr Hammond alluded to with news that a higher proportion of women are in employment than ever before. (more…)Read More