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4 March 2021: Business fears about a sudden end to support and across-the-board tax rises were largely unfounded, but businesses stand to lose out in the longer-term. Business concerns about a sudden end to coronavirus support and sweeping tax rises have been alleviated by the Chancellor’s Budget speech. Instead, the Chancellor announced a potentially game-changing measure to encourage business investment that could reshape the British economy. This will also play a part in counteracting the 25% Corporation Tax increase, which is set to come in in 2023.  In addition, the temporary extension of carry back of trading losses from the one-year entitlement to a period of three years will offset the Corporation tax increase, which will affect businesses with profits greater than £250,000 a year. 

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