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As accountants, it’s our job to keep you up to date with developments that could affect your business — and that’s where our daily newsfeed comes in. Thanks to our latest accounting updates on tax legislation, business news and key industry insights, you’ll always stay ahead of the curve.
R&D spending hits £47.5bn in 2019/20
Expenditure on R&D as percentage of GDP trails behind target.Hospitality and tourism VAT rises to 12.5%
Trade bodies demand temporary rate be made permanent.Furlough scheme ends after 18 months
Around 1m people were still furloughed.Salary sacrifices ‘may mitigate the NICs rise’
Employees could benefit in the short-term.What’s next for the state pension increase in 2022/23?
Government relaxes triple-lock rules due to distortions caused by the pandemic.Income tax’s digital overhaul pushed back until 2024
HMRC postpones MTD ITSA and basis period reforms after listening to concerns.Calls resurface to abolish business rates
Opposition would increase digital services tax to fund the move.Borrowing between April and August less than expected
Monthly borrowing remains above pre-pandemic levels.HMRC postpones MTD for ITSA to 2024
Basis period reform also delayed to at least 2024.OTS publishes report on tax year-end change
New paper stops short of recommending tax year change.
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