No extension to MTD in 2020

The Government has confirmed it will not be mandating Making Tax Digital (MTD) for any new taxes or businesses in 2020. Previously, HMRC said it would not extend the scheme to other taxes, such as income tax and corporation tax, until April 2020 at the earliest. This...

Spring statement 2019: reactions

New measures to tackle late payments Mike Cherry, national chairman of the Federation of Small Businesses, said: "The commitment from the Chancellor that the Business Secretary will [tackle late payments] is welcome, and we are especially pleased that the first...

Spring Statement 2019: key announcements

Chancellor Philip Hammond delivered few significant announcements in his Spring Statement on 13 March 2019, instead reiterating or updating those made in Budget 2018. Aside from a response to the updated economic and fiscal forecasts from the Office for Budget...

Spring statement 2019: OBR cuts growth forecast

The Office for Budget Responsibility (OBR) has revised down its growth forecast for 2019, but has predicted lower borrowing. According to the forecasts announced on 13 March in Spring Statement 2019, GDP is set to grow by 1.2%, down from October's forecast of 1.6%....

Spring Statement 2019: expectations

At around 12.30pm on Wednesday 13 March 2019, Chancellor Philip Hammond is expected to deliver his Spring Statement to the House of Commons. Last year, he limited the speech to a length of around 20 minutes and focused on announcing updated economic forecasts, in...