Autumn Budget October 2021

28th October 2021

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On 27 October 2021, Chancellor Rishi Sunak delivered his budget speech outlining key changes to be implemented in the coming months and years.  Although the Chancellor tinkered with some specific areas of the tax system, most small business owners will be relieved that it was a relatively quiet budget as far as mainstream tax changes go.  Prior to the budget there was the usual chatter about the possibility of capital taxes being increased and perhaps capital gains tax reliefs being reduced but thankfully both capital gains tax and inheritance tax escaped attention again.

Given that COP26 is due to start within days, there was surprisingly little mention of any environment related issues, if anything a reduction in air passenger duty for internal flights and increased spending on roads is in conflict with the aims of the conference.

Some of the key tax related announcements were as follows;

To read our 2021 Autumn Budget Report, be sure to download your copy here: Autumn Budget Report 2021