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Welcome to the September 2021 issue of our newsletter.
The Prime Minister Boris Johnson has recently announced that the proposed increases in National Insurance Contributions and dividend tax would raise £36bn for frontline services in the next three years and be the "biggest catch-up programme in the history of the NHS". He accepted the tax and NIC increases broke a manifesto pledge, but said the global pandemic was in no one's manifesto.
The government has also confirmed that a full Spending Review (SR) will be held alongside the Budget on 27 October, and published its overall spending ‘envelope’ – the total pot of money to be allocated between departments at the SR. These new spending plans cover 2022/23, 2023/24 and 2024/25 and represent a return to multi-year budgeting which have proved impossible during the pandemic.
We will bring you our Budget predictions prior to 27 October and provide an immediate summary of the main announcements and how they may impact you.
Finally, are you looking for a free, automatic way to log your mileage? This and many other useful tools will be included on our app being launched very soon.
Please contact us if you want to talk about how these updates affect you or your business. We are here to support you!
Business/Tax News and Tips
Brexit Related Updates
COVID-19 Related Updates
06 Feb 2024
Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.
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