Tel: 01403 780 770

Building and protecting your wealth

Budget Update: What to Expect from the Budget on 3 March

With just days to go before the next budget announcement, what can you expect from Chancellor of the Exchequer, Rishi Sunak’s plans for the nation on 3 March?

This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

This does not constitute advice and advice should be sought in all instances before acting on it. The Financial Conduct Authority does not regulate tax advice. 

After a challenging year, there are conflicting reports about what could possibly be announced next week. Some believe that plans to balance the country’s budget will be a priority, while others say there will be continued support while the pandemic is still putting a hold on the economy, and balancing books may take a back seat. Either way, the pandemic continues to be front and centre and we can be sure to learn which route the government is taking on 3 March.

In the meantime, here are a few hot topics that are likely to be addressed in the 2021 Budget:

Furlough Scheme – The chancellor is expected to extend the furlough scheme until the summer. It’s currently set to end in April, but it has been extended each time it’s been set to expire, so experts predict another extension during the budget announcement.

More self-employed support – More information about the fourth iteration of the self-employed income support (SEISS) grant designed to cover February, March and April will most likely be in the budget announcement despite taking place one month into the new grant period.

Stamp duty land tax holiday extension – Many field experts expect the Treasury to extend the 31 March expiration date on the current SDLT holiday. It may just mean that offers already in process will still benefit, but it could be a complete extension for another six weeks to help stimulate the market. With news of the extension coming to an end, activity slowed so it could be a big win for the housing market.

No potential tax rises – While the question still remains about how exactly the coronavirus support measures would be funded, the rumours are that any potential tax rises will be delayed until a later date if the Chancellor is focusing on recovery support rather than balancing books. If tax rises are on the table, they most likely won’t go into effect until later this year.

The budget announcement is the perfect reason to speak with your financial adviser

Keep an eye out for our Budget Statement 2021 Guide following the announcement on 3 March. You’ll receive the guide automatically if you are subscribed to our mailing list. You can subscribe here to make sure you don’t miss it.

We will also post a link on our social media channels when it becomes available.

No matter what ends up in the announcement, you may also need to review your financial plans to ensure they’re optimal with the changes bound to come from the statement, so schedule a financial review with us following the budget.

Time for a financial review?
Investments | Financial Planning | Retirement | Save Tax | Protection |

Dental & Medical Financial Services have been helping doctors and dentists to build and protect their wealth, whilst saving tax for over 25 years.
Call Darren to discuss your options.

Tel: 01403 780 770


Follow us on for regular financial and mortgage updates

Twitter                     LinkedIn

If you found this article interesting, why not share it?

Meet the Advisers

With over 20 years experience our advisors can help you meet your business and personal goals.

Who we Help

All our clients are doctors and dentists, just like you. As specialists we know your industry inside out.

Info & News

Make this the place you visit to keep up to speed with financial news for your sector.

Contact Us

Wherever you are in the UK we can help you build and protect your wealth.

Get Connected

to our specialist team

Tel: 01403 780 770

Keep Updated

Simply register your name and email below and receive our updates direct to your inbox

Dental & Medical Financial Services News Updates

Just for doctors and dentists

Read more news


Dental and Medical Financial Services is an appointed representative of Best Practice IFA Group Limited, which is authorised and regulated by the Financial Conduct Authority. Company registered in England no. 9158580 Registered office: 1 Market Square, Horsham, West Sussex, RH12 1EU

© 2014 Dental & medical Financial Services. All rights reserved. Website design by Goldmine Media.