2021 Budget Analysis
As the Government continues its unprecedented spending to support the economy and jobs, the Chancellor has announced his first measures to promote a recovery while addressing the growing deficit. These included:
- Ongoing support measures for businesses to secure their survival and emergence from the pandemic
- An increase in Corporation Tax rates to 25% from April 2023
- A new super deduction of 130% for investment in plant and machinery
- The announcement of 8 new freeports across England attracting a wealth of tax incentives for new investment
We’re pleased to deliver our initial response to the key tax implications for Life Sciences in our full report which you can access here.
For further guidance please contact Richard Turner (Tel: +44 (0) 20 3727 1506) or visit FTI Consulting and N-Site.
Last Reviewed: March 2021
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