Faustina Anyanwu
- Budget 2021
- Economic crisis
- March 3, 2021
- 0 Comments
- 2 minutes Read
Budget 2021: Chancellor Rishi Sunak Delivers A Robust Budget Committed to Economic Growth.
Furlough scheme extended.New business recovery loan scheme.kickstart scheme to pay up to £3000 incentive to employers of apprentices of any age.Universal Credit £20 top up kept.Increased living wage to £8.49Mortagage initial deposit reduced to 5%.Hospitality, gyms, salons etc to receive restart grant of up to 18kNewly self employed to apply for 4th and 5th grant scheme.Stamp duty holiday extended.Personal tax frozen.Alcohol and fuel duties frozen.Tax, Vat, and business rate cuts or holidays extended. Freeze personal income tax thresholds until 2026 for 12, 570 to 50, 270. Corporation tax up to 25% of profits over 50, 000 by 2023 while small profits less than 50k remain at 19% and struggling businesses remain unaffected.
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