BUDGET 2021 - Consilium Asset Management
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;• CONSILIUM
of ASSET MANAGEMENT
GUIDE TO
BUDGET
11 2021
ANALYSIS OF THE CHANCELLOR’S BUDGET AND ITS
IMPACT ON YOU, YOUR FAMILY AND YOUR BUSINESS
Consilium Asset Management
Vayre House, Hatters Lane, Chipping Sodbury, Bristol, BS37 6AA
Telephone: 01454 321511 Email: info@consilium-ifa.co.uk Web: www.consilium-ifa.co.uk
Consilium Asset Management Ltd is authorised and regulated by the Financial Conduct AuthorityBUDGET 2021 BUDGET 2021
This Budget follows a year
of extraordinary economic •
challenge as a result of the
ongoing COVID-19 pandemic.
04 Budget 2021:
The announcements set out how
• the government is extending
Key announcements at a glance
the cautious easing of social
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distancing rules and the op
reopening of the economy in the
government’s roadmap. 3
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05 Budget 2021: COVID-19
S
05 Budget 2021: Strengthening the
What you need to know
06 Budget 2021: Protecting jobs and livelihoods
o •
the roadmap
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05 06
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K' 07 Budget 2021: Protecting jobs and livelihoods
I 1 What you need to know
Budget 2021 MIER n4
a 07 Budget 2021: Strengthening the
back on track
' , 08 Budget 2021: An investment-led recovery
path in the medium term
09 Budget 2021: An investment-led recovery
What you need to know
07 08
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ti
09 Budget 2021: Personal tax
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S
econd, once we are on the way to
What does Budget 2021 (S 10 Budget 2021: Welfare
mean for your future plans?
111
r. 10 Budget 2021: Scotland, Wales
and Northern Ireland
•
Chancellor’s three-point plan
to protect jobs and strengthen furlough scheme extended
10 11
through the pandemic
11 Budget 2021: Housing
from lockdown
02 BUDGET 2021 BUDGET 2021 03BUDGET 2021 BUDGET 2021
Budget 2021:
Budget 2021: Key announcements at a glance Budget 2021:
Strengthening the
T
Nations and regions
England announced
What you need to know
Coronavirus (COVID-19)
Other announcements
\,44.-tLai.
As a result of the pandemic,
borrowing is set to reach
16.9% of GDP in 2020/21, the
M
cannot work % highest level of peacetime
' 17
borrowing on record, and
underlying debt will peak at
97.1% in 2023/24.
Economy
until September
H
Business
economy to recover quickly when
hour from April
Growth
Housing on record, and underlying debt will peak at
until September
Borrowing
Transport, environment and
infrastructure
Personal taxation,
Budget 2021: COVID-19
investments and pensions
Health
A
rIr
vaccination rollout internationally competitive’
04 BUDGET 2021 BUDGET 2021 05BUDGET 2021 BUDGET 2021
Budget 2021:
Budget 2021: Budget 2021:
Strengthening the
Protecting jobs and livelihoods Protecting jobs
and livelihoods
What you need to know
UK’s tourism and hospitality sector
A
New UK-wide
mortgage guarantee scheme
I
n the near term, the Chancellor of the
made in vaccine deployment and public will continue to receive funding through the
Highest income households
I S
~,
•
Mr Sunak announced a new UK-wide mortgage
guarantee scheme that will make home ownership
more achievable for thousands of people, and in
England and Northern Ireland he extended the
temporary cut in Stamp Duty Land Tax to support
the housing market and protect and create jobs.
06 BUDGET 2021 BUDGET 2021 07BUDGET 2021 BUDGET 2021
Budget 2021:
An investment-led recovery
The Chancellor announced a radical a What you need to know
new super-deduction tax incentive for
companies investing in qualifying plant
and machinery will mean for every
no•
pound invested companies will see .• •t
taxes cut by up to 25p.
ct,•—,•:•••
all•terS•C`
E
Budget 2021:
An investment-led recovery
A requirement to return the public
New super-deduction tax incentive
Budget 2021: Personal tax
The Chancellor announced a radical new
Inheritance Tax nil-rate band
tackle climate change and promote economic and residence nil-rate band
Administrations to ensure the
delivery of Freeports
greenhouse gas emissions
Personal Allowance and National Insurance contributions
improve their management and adopt new (NICs) thresholds
Capital Gains Tax Annual Exempt
Amount (AEA) uprating
08 BUDGET 2021 BUDGET 2021 09BUDGET 2021 BUDGET 2021
Budget 2021: Budget 2021:
Budget 2021:
£27 million in the Aberdeen Energy
Welfare
Transition Zone and £5 million in the
Global Underwater Hub in Scotland, the
Housing
furlough scheme extended
Transition Deal.
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,v
• VII
Universal Credit increase -•; Temporary Stamp
Duty Land Tax (SDLT) cut
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New mortgage guarantee scheme
Budget 2021: '
■
Scotland, Wales
Universal Credit surplus earnings threshold
I
and Northern Ireland Coronavirus Job
Universal Credit Minimum Income Floor suspension
All other eligibility criteria will remain the
of the pandemic, the Chancellor of the
I
Change to Support for Mortgage
The value of the grant will be determined Interest for claimants moving home
Universal Credit debt deductions cap and
advance repayments
Self-Employment Income Support Bringing forward exemptions to the
Scheme (SEISS) fourth grant
Income Tax exemptions for
expenses
£27 million in the Aberdeen Energy
10 BUDGET 2021 BUDGET 2021 11Budget 2021:
What does it mean
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