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PERSONAL TAX ALLOWANCE Freeze on Income Tax Threshold – remaining at £12,570 until April 2028 when it will be reassessed. CORPORATION TAX RATE The main rate of corporation tax has remained at 25% for profits over £250,000 and for profits under £250,000 it will remain at 19%. CAPITAL GAINS TAX (CGT) CGT Rate the main rates of Capital Gains Tax that apply to assets other than residential property and carried interest from 10% and 20% to 18% and 24% respectively,…

JOB RETENTION SCHEME HMRC have extended the furlough scheme until September 2021. It will continue to pay 80% until June 2021, 70% in July 2021 and 60% in August and September 2021. This scheme as always is to retain jobs where work is not currently available, if your turnover is the same pre Covid, you may need to look at whether this scheme is applicable any longer.   SELF EMPLOYED INCOME SUPPORT SCHEME (SEISS) The SEISS has been extended till…