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Spring Budget 2021

On 3 March 2021, the Chancellor extended coronavirus support measures, confirmed changes to corporation tax rates and the freeze of personal allowances, and outlined a series of measures aimed at supporting the rebuilding of the economy post-COVID. On 23 March HM Treasury released more than 30 announcements and documents on tax. Read ICAEW's analysis.

ICAEW analysis of key annoucements

SEISS grants four and five confirmed in Budget

The criteria for the fourth and fifth SEISS grants will include 2019/20 self assessment tax return data and widen the scheme to hundreds of thousands more taxpayers, but close it to others. Ahead of legislation and HMRC guidance ICAEW’s Tax Faculty explains what we know so far.

Tax Faculty analysis of Spring Budget 2021

ICAEW's Tax Faculty provides a summary of the announcements on tax and related matters in the 2021 Budget on 3 March, covering: business tax, COVID support, duties, employment taxes, environment taxes, international taxes, MTD, personal tax, property tax, tax compliance and VAT.

Green savings: an opportunity to clean up?

5 March 2021: For those wanting to green their personal finances, this Budget offers new ways to put your money to work for the benefit of the planet. ICAEW’s Philippa Kelly highlights what savers and investors might want to look out for.

Tax Day announcements

Tax Day announcements take a long-term view

Examining how the UK’s tax system is administered, when taxes should be paid, simplification opportunities and the benefits of digitalisation, form the heart of the HM Treasury’s ‘Tax Day’ announcements, but more detail is awaited in many areas.

Webinars on Budget 2021

Tax Faculty webinar

In this free webinar on 5 March, the Tax Faculty team will be reflecting on the tax related announcements made by Rishi Sunak in the Budget 2021.

The 2021 Budget explained

Rebecca Benneyworth MBE, west of England member and award-winning tax lecturer, will give an update about key announcements. This free event is aimed at sole practitioners and small firms, though anyone is welcome to join.

Essentials Virtual CPD 2021

This session, part of ICAEW's virtual CPD event offering, will provide an update on the tax content of Budget 2021. The session will be designed for members in practice and business.

Economic context

Chart of the week: an unsustainable path

26 February 2021: The Chancellor needs to build a bridge to economic recovery in his first Budget on Wednesday, focusing on jobs, exports and investment. But with the OBR’s official projections showing public debt to be on an unsustainable path, what vision will he set out for the public finances in the long-term?

Business pulse check: Informing the 2021 UK Budget

Ahead of the 2021 Budget, ICAEW members believe that the Chancellor should avoid major tax changes, encourage job creation, help SMEs to keep exporting, accelerate digital infrastructure rollout and soften the business rates cliff edge to help businesses cope with the continued challenges of the pandemic, while positioning the country for recovery in the longer term.

UK Business Confidence Monitor: National

The latest Business Confidence Monitor (BCM) for Q4 2023 shows a slight shift in sentiment within the quarter. However, the quarter-on-quarter improvement in sentiment is marginal, remaining broadly steady at a similar level over the last few quarters. Overall confidence continues to fall short of the pre-pandemic average.

Chart of the week: Japan Budget 2021-22

5 February 2021: This week's chart focuses on the Japanese economy as it seeks to return to relative fiscal normality in the year commencing 1 April 2021, following multiple supplementary budgets in its current financial year.

ICAEW letters to the government

ICAEW's letter to the Chancellor ahead of Budget 2021

Ahead of the Budget on 3 March ICAEW's Chief Executive, Michael Izza, has written to the Chancellor outlining three policy areas that ICAEW would like to see addressed. It calls for action to boost job creation, help SMEs to export and accelerate digital infrastructure rollout.