The Chancellor delivered his budget on 3rd March 2021.
We waited with bated breath to find out if he would start raising revenue through taxation increases or concentrate on support and stimulus for the economy. We got both.
The key announcements affecting the financial planner was a much anticipated change to Corporation Tax and a freezing of tax bands and allowances until 2025/26.
These are expected to raise around £70bn in extra tax revenue with £21bn of that due to the freezing of the mainstream allowances. So plenty of opportunity for the financial planner to show their worth to their clients in reducing tax.
You can find details of all the changes below.