- Expenditure on R&D as percentage of GDP trails behind target.
- Trade bodies demand temporary rate be made permanent.
- Around 1m people were still furloughed.
- Employees could benefit in the short-term.
- Government relaxes triple-lock rules due to distortions caused by the pandemic.
- HMRC postpones MTD ITSA and basis period reforms after listening to concerns.
- Opposition would increase digital services tax to fund the move.
- Monthly borrowing remains above pre-pandemic levels.
- Basis period reform also delayed to at least 2024.
- New paper stops short of recommending tax year change.
Get advice from our experts
You can come to visit us or we're happy to meet you at your home or office.