General Economics of the UK - Of course underlying all this is the unprecedented level of UK National Debt.
VAT - 5% rate extended for another six months followed by a 12.5% rate for a further six months
UK Furlough - To be extended until the end of September at the 80% rate until July. Although from July, the government will introduce an employer contribution towards the cost of unworked hours of 10% in July, 20% in August and 20% in September.
100% exemption from Business Rates for tourism business in England until the end of June, with a 2/3s discount for the remaining 9 months (up to the value of £2m for closed businesses), we await a similar announcement from the Welsh Government?
SEISS - Self Employed whose turnover has fallen by 30% or more will continue to receive the full 80% grant.
Contactless Payment - From today, the maximum amount that can be paid through contactless payment will be raised from £45 to £100.
Extended Loss Carry Back
Super Investment Tax Deduction - To encourage investment, from 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will benefit from a 130% first-year capital allowance. This upfront super-deduction will allow companies to cut their tax bill by up to 25p for every £1 they invest.
Air Passenger Duty - APD rates will increase in line with RPI from April 2022
Alcohol Duty - No increases this year
Fuel Duty - No increases this year
Infrastructure Bank - A UK Infrastructure Bank will be established in Leeds with £12bn.
Help to Grow: Management - The government will offer a new UK-wide management programme to upskill 30,000 SMEs in the UK over three years. The programme will be over 12 weeks, and 90% subsidised by government.