The LB Weekly Roundup (BUDGET SPECIAL) – 5 March 2021

See the webinar recording at the bottom of this blog ūüĎá

In this webinar, our Managing Director Sarah Alexander and Tax Director Tom Foster discuss the key announcements from the Chancellor’s Budget on Wednesday 3rd March!

 

Topics covered in the webinar include:

  • Coronavirus Support Measures
    • Loan Schemes –¬†(skip to 02:28)
    • Restart Grants –¬†(skip to 04:34)
    • Business Rates –¬†(skip to 06:22)
    • Rates Review –¬†(skip to 07:38)
    • Employer-Reimbursed Coronavirus Tests –¬†(skip to 08:18)
    • Coronavirus Job Retention Scheme –¬†(skip to 08:52)
    • Traineeships & Apprenticeships –¬†(skip to 10:16)
    • Reduced VAT for Hospitality Sector –¬†(skip to 11:28)
    • Self-Employment Income Support Scheme –¬†(skip to 13:42)
  • ¬†¬†Tax Changes Announced
    • Corporation Tax Rates¬†–¬†(skip to 17:56)
    • Tax Losses – (skip to 22:43)
    • Super Deduction – (skip to 23:45)
    • First Year Allowances for Business Cars – (skip to 26:38)
    • Van Benefit Charge Nil-Rating – (skip to 28:09)
    • Employer-Provided Cycles Exemption Easement – (skip to 28:36)¬†
    • Research and Development (R&D) Tax Relief¬†– (skip to 29:23)
    • Capital Gains Tax (CGT)¬†– (skip to 31:47)
    • Inheritance Tax (IHT) Nil Rate Bands¬†– (skip to 32:57)
    • Off-Payroll Working in the Private Sector¬†– (skip to 33:37)
    • Personal Allowance and Tax Bands/Rates – (skip to 35:11)
    • Income Tax Exemption for COVID-19 Home Office Expenses¬†– (skip to 37:32)
    • Pensions Lifetime Allowance¬†– (skip to 38:21)
    • Stamp Duty Land Tax (SDLT)¬†– (skip to 39:11)
  • ¬†Other Budget Announcements¬†
    • Universal Credit and Working Tax Credit¬†– (skip to 40:47)
    • Venture Capital Schemes¬†– (skip to 41:12)
    • Mortgage Guarantee Scheme¬†– (skip to 41:48)
    • National Minimum and National Living Wage (NMW & NLW)¬†– (skip to 42:23)
    • Freeports¬†– (skip to 43:31)

We have also put together a guide, which explores these Budget announcements further, which you can download here: https://www.lewisbrownlee.co.uk/budget-2021-guide/

If you have any questions or would like to discuss any topics further, then please get in touch: