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03.03.2021

Budget 2021: key points at a glance

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Nadia Khan DipPFS Cert CII (MP), Wren Sterling

Furlough and Self-Employed Support

Furlough scheme extended to end of September and will cover 80% of salary
From July, firms will be asked to contribute 10% in July and 20% in August and September
Self Employed grants extended to September 2021
Fourth grant covering 80% of average trading profits up to £7,500.
Fifth and final grant from May onwards, Claim open end of July 2021
Newly self-employed can now claim 4th and 5th grant for tax year 2021/22

Business support

The Treasury is launching a new loan scheme to run until the end of the year. Loans can be between £25,000 and £10m.
Business who have lost 30% or more in revenue, will receive a grant up to 80%, 30% or less in revenue will receive only a grant up to 30%.
Cash Grant for non-essential business will each receive up to £6,000
Leisure and Hospitality, will each get £18,000

Housing

As expected, stamp duty holiday on properties up to £500,000 continues until the end of June.
From 1st July 2021 this will increase to £250k
By 1st October 2021, this will resume to usual rate
The chancellor confirms a mortgage guarantee to help first-time buyers access 95% mortgages.

updates
budget2021
rishisunak

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Nadia Khan DipPFS Cert CII (MP) Wren Sterling

I am an Independent Financial and Mortgage Adviser and have worked in Financial Services for over 12 years. During my career I gained experience in assisting both individual and corporate clients.…

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