Budget 2021 – Tax Measures
The Chancellor of the Exchequer delivered the 2021 Budget on 3 March 2021.
From a tax perspective, the much-predicted increase in CGT rates did not materialise. Neither did any
form of wealth tax. Instead, the tax impact on individuals will largely be felt through the freezing of most
tax bands and allowances until 2025/26. The focus of tax rises to pay for the Covid-19 pandemic was
instead business tax: the main rate of corporation tax will rise from 19% to 25% from April 2023.
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