SDLT break extended
The temporary increase of the nil rate SDLT band to £500,000 will continue until the end of June 2021. From 1 July to 30 September 2021 the nil rate band will sit at £250,000. Above £500,000, the standard SDLT rates and thresholds remain in force.
The holiday will not just benefit individual buyers, but companies can benefit from these changes as well, where they are not subject to the flat 15% rate. However, taxpayers should be aware that the holiday applies only to residential property and the rules concerning higher rates for additional dwellings will continue to apply (but with the 3% rate available to £500,000).
Corporation tax on the profits of big business to rise from 19% to 25% in April 2023
The UK corporation tax rate is set to rise to 25% in April 2023 for profits above £250,000. Smaller businesses with profits of £50,000 or less will be protected from the hike and will continue paying corporation tax at the current level of 19%.
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