Budget 2021: shipping firms that fly red ensign flag to be offered tax breaks
Chancellor derided for finding ‘only advantage from Brexit’
Global shipping companies will from April 2022 be offered tax breaks if they fly the UK’s historic merchant shipping flag, the red ensign.
The chancellor, Rishi Sunak, announced in the budget on Wednesday that shipping companies which fly the red flag with the union jack would have a greater chance of being able to join the UK tonnage tax break scheme.
Source: Business – The Guardian