Budget  

Guide to the Budget

  • Describe how the Covid grants to self-employed will work
  • Explain the impact of the income tax band freeze
  • Identify some of the issues relating to green bonds
CPD
Approx.60min
Guide to the Budget
 Chris J Ratcliffe/Getty Images

Introduction

Putting together a Budget during a pandemic, Rishi Sunak left many people wondering whether this would be the time he would put up taxes, or still be the generous Chancellor he has been so far throughout the crisis.

Largely it focused on the latter, with the extension of reliefs for those wanting to buy property and those on furlough or experiencing financial distress due to the pandemic.

However, there were tax rises coming - corporation tax has increased for larger companies, in a couple of years' time, and income tax bands have been frozen, effectively mounting to tax rises when wages do increase.

This guide aims to set out some of the changes in detail, and explain the implications. It is worth an indicative 60 minutes' CPD.

In this guide

CPD
Approx.60min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. According to the first article, how can a self-employed person claim for the fifth grant, offered by Rishi Sunak?

  2. According to the first feature, why is the rise in corporation tax a surprise?

  3. According to the second feature, how quickly could someone earning £49,000 find themselves in the higher earners' tax bracket, due to wage inflation?

  4. What is the threshhold for 95 per cent mortgages, according to the third feature?

  5. The stamp duty holiday will come to a complete end at the end of June, true or false?

  6. Why do ESG managers typically not invest in government bonds?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Describe how the Covid grants to self-employed will work
  • Explain the impact of the income tax band freeze
  • Identify some of the issues relating to green bonds

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