The Chancellor, Rishi Sunak delivered his second Budget this calendar year with the Covid 19 virus continuing to have an impact, both emotionally and financially, on individuals, families, businesses and the UK economy as a whole.
In 2021/22, the personal allowance will rise to £12,570 and the higher-rate threshold to £50,270 - but after that, both thresholds will remain frozen until 2025/26, Stamp duty holiday extended & Mortgage scheme to guarantee 5% deposits, Covid-19 Support, VAT, Corporation Tax
The Future Fund will support the UK’s innovative businesses currently affected by Covid-19 and unable to access other Government business support programmes. It will provide UK-based early stage companies with convertible loans between £125,000 and £5 million.
The Business Interruption Loan Scheme gives businesses access to bank lending, overdrafts and other finance solutions to help them through the current crisis.
The Association of Accounting Technicians (AAT) has urged Chancellor Rishi Sunak to write off coronavirus bounce-back loans to help the UK economy recover amid the ongoing pandemic.
As Accountants, it’s our job to ensure that our clients [...]