ACCA Budget Reaction 

'Fragmented’ budget does not give businesses certainty

Download and share key guides to Budget 2021

ACCA's simple guide to Budget 2021,  A guide to business rates  and Budget 2021: tax rates and allowances  that summarise the key information you need from Budget 2020.

UK Budget update webinar

How does the Budget impact you and your clients?

UK Budget Survey

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Extra support for apprenticeships is extended 

Temporary incentive payments introduced in 2020 will be increased to £3,000 and continue until September 

SME Brexit Support Fund helps prepare businesses 

Grant offers £2,000 towards professional advice and training on import and export rules including VAT

Employment Allowance set to continue 

Businesses will not to have to pay employer’s NIC on the first £4,000, so take care when you claim!

Changing your year-end/period of account? Don’t forget ‘overlap relief’

This relief could help cashflow for small businesses when they need it most

Stamp duty land tax surcharge for non-UK residents 

Non-UK residents to pay additional SDLT on residential property purchases from April 2021

Employers of ex-military get national insurance holiday

Relief applies to recruitment of former members of the UK regular armed forces

ACCA engagement letters updated

The free resource includes new VAT schedules to cover Great Britain and Northern Ireland following Brexit

Don’t miss the 1 April tax payment deadline

If you benefited from HMRC’s filing extension, make sure you avoid the 5% penalty

Free webinars offer support in key technical areas

ACCA UK’s practitioner series covers hot topics from Covid-19 and data protection to crossborder VAT 

UK Budget 2021: economic overview 

The success of the Covid-19 vaccination programme has bolstered the prospect of a strong rebound

MTD for VAT: end of the soft-landing era

Systems must be compliant for MTD from 8 April

VAT round-up

Temporary VAT rate reduction extended until September

Corporation tax to rise – marginal rate relief returns

Small profit and main rates of CT make a come-back, along with marginal rate relief 

Government to consult on digital platform reporting rules 

The new power, based on OECD rules, will enable HMRC to demand information on sellers’ incomes

Plastic packaging tax will be introduced this year

New regulations could lead to 200,000 tonnes of carbon savings in 2022-23 and increase use of recycled materials by 40%

More grants via the Self-employed Income Support Scheme 

The latest round of grants for the SEISS has been announced, with more applicants potentially qualifying.

Extension to the Coronavirus Job Retention Scheme 

An extended version of the CJRS provides further support for employees until the end of September

Home office income tax and NIC exemption extended 

Employers will not be required to report reimbursed expenses when employees need to buy equipment

Capital allowances and other new reliefs 

AIA has already been extended to 31 December 2021. Enhanced super-deduction reliefs now available for certain investments

Sunak puts you front and centre again! 

The chancellor hit a home run today in the Budget for the future of the UK economy.

Maintaining annual exempt amount for capital gains tax

A freeze on the annual exemption amount to 2026!

New VAT penalty regime 

Reform of existing regime with a £200 points-based late submission penalty

Gift Hold-Over Relief to be restricted

Business assets given to foreign-controlled companies may not be eligible for capital gains tax relief 

Freeze coming on pension lifetime allowance 

Plan ahead – there is a freeze coming from 2021 to 2026

Stamp Duty Land Tax relief for Freeports 

Know the rules as there are control requirements

Research & Development tax reliefs 

Anti-abuse measures for SMEs R&D tax relief and R&D reform with more on the horizon.

Temporary extension of losses carry-back for businesses

Extension of the period for trading losses carry-back to get a refund

Pensions update – all you need to know 

Updates to annual, lifetime and tapered annual allowances and more

Easement continues for employer-provided bike tax exemption 

Cycle to Work scheme’s qualifying journeys condition for employees will not be reintroduced until 2022.

Income tax roundup 

Here’s our guide to the changes for 2021, including a personal allowance freeze and Covid-related exemptions

Investor tax incentives

Extended tax incentives for social investment initiatives

Inheritance tax bands to freeze for five years

Thresholds on the nil-rate, and residence nil-rate and taper, will be fixed until 2026

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Recruitment support – ACCA Careers 

ACCA Careers is always here to help ACCA Members

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