IPT unchanged in the Budget 2021

March 2021

Despite calls from industry representatives for a cut, the standard rate of IPT remains unchanged at 12% following Rishi Sunak’s budget on 3 March. The new rate of Corporation Tax at 25% remains the lowest in the G7. However, businesses with profits of £50,000 or less, around 70% of actively trading companies, will continue to be taxed at 19% and a taper above £50,000 will be introduced so that only businesses with profits greater than £250,000 will be taxed at the full 25% rate.

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