Freeths Budget Comment

Whilst Autumn Budget 2021 announced a number of spending giveaways, it was relatively light on new tax measures. In particular, the much-feared increases to rates of capital gains tax, inheritance tax and self-employed national insurance contributions did not materialise. Also absent were new restrictions on pensions tax relief or the introduction of a wealth tax.

Budget Comment from Grant Thornton

Jim Rogers, practice leader for Grant Thornton UK LLP in the Thames Valley area, said: “Businesses will be breathing a sigh of relief. The emphasis was on creating a new post-Covid economy and with two significant tax hikes already imposed this year, there was at least no more bad news.