• Furlough will be staying at 80% - from July 10% will be contributed by employers, and  in August 20% by employers

• Support for the self-employed will continue until September

• Newly self-employed people (if tax return filed by 28/02/21) can now claim SEISS grants going forward

• A restart grant for businesses will be available from April 2021

• The recovery loan scheme will end in December – backed 80% by government

• Rates of income tax, national insurance or VAT will not rise

• Personal allowance of £12,570 and higher rate tax band of £50,270 will be frozen to April 2026

• Inheritance tax threshold, CGT allowance, VAT registration threshold will be frozen for the next 2 years

• New HMRC tax force to be put in place to prevent fraud

• From April 2023 corporation tax will rise to 25%

• Over the next 2 years, when companies invest, they will get a “super deduction” to reduce profits by 130% of costs – detailed in the newsletter.

• “Freeports” to be introduced in certain regions of the UK 

• Minimum wage will rise to £8.91 from April 2021

• There will be a £3,000 grant for new apprentice hires

• 100% business rates holiday will end in June – 2/3 discounts for the rest of the year

• 5% VAT on hospitality will be extended until end September 2021, then 12.5% until April 2022

• £500k nil rate band for stamp duty on properties has been extended to 30 June 2021 and then reduced to £250k nil rate band to end in September 2021. It will return to £125,000 from 1 October 2021

• Tax treatment on losses (max £220K) can be carried back 3 years

• Investment in green industries and infrastructure will be £12b starting in spring

• Help to grow scheme

• More money into R & D and Enterprise Investments

• £150m for local communities to take over pubs, clubs, shops etc

• Universal credit uplift of £20 per week will continue for another 6 months

• £19m will go into reducing domestic violence programmes

• £10m will go to support armed forces veterans and mental health needs

• £700m will go to arts, culture and sports

• Mortgage guarantee – government to back mortgages that only require a 5% deposit

• Alcohol duty will be frozen

• Petrol duty will be frozen

• UK savers can invest in green products

• £1.6b into vaccination programs

• More flexibility for pension industries to invest

• UK Infrastructure bank to be set up in Leeds and given £12b worth of capital

• Taxation on COVID grants

• Personal liability notices

• Child benefit income reducing

• Repairs vs Enhancements

• Plug in grants

• Working at home allowance

• Mini umbrella companies

• HMRC scam calls

• RTI Penalties