Autumn Budget 2021: Report

Speed read

Key measures include:

Current annual investment allowance (AIA) limit of £1m extended to 31 March 2023.
Bank surcharge reduced but surcharge allowance increased.
Basis period reform to go ahead with 2023/24 as transitional year.
Time limit extended to 60 days for CGT payment on residential property disposals.
Discovery assessments can be used to recover the HICBC (countering the UT decision in Wilkes).
Immediate abolition of cross-border group relief.
Changes to the DPT regime including to preclude the issue of a closure notice in relation to any matter which is or could be relevant to the DPT charging notice.
Reforms to R&D rules.
Consultation on enabling corporate redomiciliation.
Changes to corporation tax loss relief to benefit certain companies in financial distress.
Confirmation of a new regime for qualifying asset holding companies.
The rate of the residential property developer tax (RPDT) set at 4% on profits exceeding a group-wide annual allowance of £25m.
The controversial third trigger for notification of uncertain tax treatments...

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Speed read

Key measures include:

Current annual investment allowance (AIA) limit of £1m extended to 31 March 2023.
Bank surcharge reduced but surcharge allowance increased.
Basis period reform to go ahead with 2023/24 as transitional year.
Time limit extended to 60 days for CGT payment on residential property disposals.
Discovery assessments can be used to recover the HICBC (countering the UT decision in Wilkes).
Immediate abolition of cross-border group relief.
Changes to the DPT regime including to preclude the issue of a closure notice in relation to any matter which is or could be relevant to the DPT charging notice.
Reforms to R&D rules.
Consultation on enabling corporate redomiciliation.
Changes to corporation tax loss relief to benefit certain companies in financial distress.
Confirmation of a new regime for qualifying asset holding companies.
The rate of the residential property developer tax (RPDT) set at 4% on profits exceeding a group-wide annual allowance of £25m.
The controversial third trigger for notification of uncertain tax treatments...