The temporary reduced rate of VAT (5%), introduced to assist qualifying hospitality trades disrupted by COVID lockdown measures, was increased to 12.5% on 1 October 2021. Based on present information, from 31 March 2022, this 12.5% rate will revert to the 20% standard rate. Businesses that manage their own accounts software will need to change…
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Autumn Budget 2021 (Downloadable PDF Summary)
As you are no doubt aware the government's Autumn Budget was on 27 October this year. Unfortunately the headline grabbing reduction in Business Rates only applies to England. Here in Northern Ireland, we'll have to wait to see what our friends in Stormont choose to do! Below is a link to our downloadable PDF Summary…
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Autumn Budget 2021 Summary
As with the Spring Budget 2021, much of the detail for the Autumn Budget had been leaked to the press prior to the official report to parliament, 27th October 2021. But we now have all the details and, as usual, there is much to consider. The following Budget summary is split into two sections: Taxation…
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Time to tighten the belt ?
Later this week (27 October 2021) Rishi Sunak will present his second budget during 2021. It is likely that reduced public expenditure and higher taxation will be features of this budget as the Treasury seeks to limit any further rise in government borrowings. The Chancellor will also have in mind increases in inflation and the…
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