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Aspects of the autumn Budget 2021

02 November 2021 / Andrew Hubbard
Issue: 4815 / Categories: Comment & Analysis
Initial impressions

Key points

  • Tonnage tax air passenger duty and alcohol duties will be reformed.
  • The 100% annual investment allowance has been extended to March 2023.
  • Changes planned for research and development reliefs.
  • Impact of the health and social care levy on National Insurance and salary sacrifice.
  • No announcements about worker status.

In normal times (remember them?) the introduction of a brand-new tax to fund health and social care would have formed the centrepiece of a Budget statement. But the prime minister pre-empted that – some might say he shot the chancellor’s fox – with the announcement of the new health and social care levy on 7 September.

Then the chancellor came close to shooting his own fox by the extensive briefing of the highlights of the speech for which he was roundly condemned by the speaker and again before the speech itself by the deputy speaker. Being...

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