Autumn Budget 2021: Business Tax Changes at a Glance
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Autumn Budget 2021: New and previously announced business tax changes

While some may have been surprised by the lack of major new tax announcements in the Autumn Budget, it’s important to remember that a number of previously announced measures affecting businesses have yet to come into force.

Here we roundup what upcoming changes businesses need to be prepared for and when:

April 2022

  • National Insurance increases by 1.25% for employers until the new Health & Social Care Levy becomes a separate tax in April 2023 (announced in September)
  • Dividend income tax rates increase by 1.25% (announced in September)
  • Residential property developer tax is due to be introduced, bringing in a 4% tax on companies with profits above £25m (announced in the Autumn 2021 Budget)
  • VAT on tourism and hospitality returns to the standard rate of 20% when the temporary 12.5% rate ends (announced in the Spring 2021 Budget)

April 2023

  • Temporary increase in the Annual Investment Allowance to £1m ends, reducing to £200k, instead of happening at the end of December 2021 as originally planned (announced in Autumn 2021 Budget)
  • Corporation tax increases from 19% to 25% (announced in the Spring 2021 Budget)
  • The super-deduction and 50% first year capital allowances comes to an end (announced in the Spring 2021 Budget)
  • Business rates multiplier is unfrozen and 50% relief for retail, hospitality and leisure sectors ends (announced in Autumn 2021 Budget)
  • Research & Development tax credit restricted to UK domestic expenditure (announced in Autumn 2021 Budget)

April 2024

  • Temporary increase in headline rates of tax relief for theatres, museums, orchestras and galleries ends (announced in Autumn 2021 Budget)

For more Autumn Budget analysis, visit our Budget hub.

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