UK Budget 2021 

On 3 March ’21 Chancellor of the Exchequer, Rishi Sunak presented the Budget 2021 to Parliament.

Here is a short summary of the most important measures introduced:   

• The furlough scheme has been extended until the end of September ’21.

• The £20 a week increase in the universal credit has been extended.

• The stamp duty holiday due to end 31 March ’21 has been extended to 30 June ’21. This relief will be reduced to the first £250,000 of a purchase until the end of September, before returning to its pre-pandemic level of £125,000 from the start of October.

• A new mortgage guarantee scheme introduced for those with 5% deposit - banks offering 95% mortgages from April ’21 for first time buyers.

Some of the further budget support measures:

• An extra £1.65 billion cash injection to ensure the Covid-19 vaccination roll-out in England continues successfully. 

• Support for the self-employed will  be extended for another six months.

• Restart grants will be provided to many businesses.

• National Living Wage will rise to £8.91 from April ‘21

• Corporation tax to increase to 25% in 2023

• No changes to inheritance tax or lifetime pension allowance or capital gains tax allowances

Read the full UK Budget 2021  HERE.