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Through the lens of coronavirus
Key points
- Super deduction will be available until 31 March 2023.
- New 25% corporation tax rate will come into force on 1 April 2023.
- Points based penalty system will replace the current one for VAT and self-assessment late returns and late payment.
- Chancellor has avoided a cliff edge in his plans for ending the stamp duty land tax holiday reduced VAT rate for the hospitality sector and the coronavirus job retention scheme.
- Creation of a task force to investigate fraud in the furlough and other support measures.
The timing of the Budget speech is not ideal from Taxation’s perspective – surely the Treasury should know that by now. A Wednesday Budget makes it all but impossible to include instant commentary in the issue that appears that week. We are able though to publish online so if readers have not already done so I recommend a look at...
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