Budget Date set for 27th October

It was announced last week that Rishi Sunak will deliver his half-yearly budget statement on the 27th October 2021. At the same time he will outline his three year spending plan. Given the amounts that have been spent by Government to support the economy through the pandemic, it’s likely to be a tricky exercise. Sunak […]

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VAT Penalty Regime Update

The recent Budget included details of the new VAT penalty regime for late submission and payment. It will come into effect for VAT Return periods beginning on or after 1st April 2022. The existing regime is being changed to bring VAT into line with other direct tax returns. At the moment, late submission or payment […]

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2021 Budget – The Headlines

As we’ve talked about before, today’s Budget was vital for businesses across the UK to be able to plan for reopening. Last week’s roadmap was Step 1, and now we have Step 2. There was a lot of content, and we’ll be working through it all over the next few hours and days to make […]

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Stamp Duty Holiday extension?

According to The Times yesterday (24th February) Rishi Sunak is going to extend the current Stamp Duty Land Tax (SDLT) holiday by an additional three months. The threshold for paying stamp duty on residential properties in England and Northern Ireland is set to reduce from its temporary level of £500,000 to £125,000 on 1st April […]

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Business bodies call for Budget support

Chancellor Rishi Sunak will present his Spring Budget on 3rd March, and there are rumours circulating that he will look to increase Corporation Tax, Capital Gains Tax or National Insurance as a source of extra funding. Both the Institute of Directors (IOD) and the Confederation of British Industry (CBI) have called on him instead for […]

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Making Tax Digital for Corporation Tax?

The Government has published its responses to a number of consultations on tax policies announced in the Spring Budget, some of which were extended due to Covid-19, plus some draft legislation. The most notable of the consultations, as far as our clients are concerned, was around Making Tax Digital for Corporation Tax. This would require […]

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