2021 Budget Overview

Earlier this week the Chancellor outlined his plans to get the economy going again, following the impact of the coronavirus pandemic.

On Wednesday, Rishi Sunak announced the following:

  • Furlough scheme extended until the end of September
  • Self-Employment Income Support Scheme 4th and 5th grants confirmed
  • Income tax thresholds frozen until 2026
  • Stamp duty holiday extended until the end of June
  • Corporation tax will increase to 25% in 2023 for businesses with profits of more than £250,000
  • Business rates holiday extended until the end of June
  • Reduced rate VAT will remain until the end of September for hospitality and tourism sectors
  • New recovery loan for businesses has been announced worth £5billion

At STS (Europe) we have created an overview of the key points from the Chancellor’s announcement. For access to our overview click here.

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Emily Dodds

Emily Dodds

Marketing and Business Development Officer

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