2021 Autumn Budget guide

28 October 2021
Photo by Eva Dang on Unsplash

Following the Chancellor’s 2021 Autumn Budget announcement yesterday, please see our guide and commentary by clicking on the image below: Autumn Budget Report 2021

With the UK continuing to make its way out of the COVID-19 pandemic, the 2021 Autumn Budget was more an announcement of spending intentions. There were no major changes to the tax and business landscape that were not already known, with the announcement in September 2021 of a 1.25% increase in dividend tax and National Insurance contributions from 1 April 2022 being confirmed. Capital gains tax (CGT) again remained unchanged, with the exception of the reporting deadline being extended from 30 to 60 days for individuals who have a CGT liability when disposing of UK residential property.

Throughout the guide you will find informative comments to help you assess the effect that the proposed changes may have on you personally, as well as a handy 2021/22 Tax Calendar and Tax Rates summary for 2021/22 and 2022/23.

In addition to ensuring that your accounts are accurate and fully compliant, we can also review your position in order to suggest potential strategies to minimise your tax liability and maximise your profitability.

If you would like more detailed, one-to-one advice on any of the issues raised in the Budget or more generally, please do get in touch with us.

Phone us on 01892 891902 or contact us to talk about your financial plans