Several coronavirus support schemes were announced in yesterday’s Budget announcement, alongside plans for the country’s post-pandemic recovery.
Each year, we publish our Langdowns DFK report, outlining everything you need to know from the Chancellor’s Budget announcements. Yesterday’s changes include:
- Corporation tax to rise to 25% from 2023 for businesses with profits of £250,000 or more
- 130% capital allowance ‘super-deduction’ for new plant and machinery for 2 years from April 2021
- Tax losses carry-back to temporarily be extended to 3 years
- Furlough scheme extended to September
- Stamp duty holiday, business rates holiday and VAT cut extended
To download the Langdowns DFK report, click here.
If you have any questions, please contact [email protected].
