The Chancellor of the Exchequer, Rishi Sunak, delivered his Spring Statement on Wednesday 23 March 2022.
HMRC have recently announced that provided 2020/21 tax returns are received by the end of February, the late filing penalty will not be applied. Filing late will, however, extend the period during which HMRC may open an enquiry into your return.
Draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year.
On 27 October 2021, the Chancellor delivered his third Budget in conjunction with the Public Spending Review.
The Prime Minister announced on 7th September that the government will introduce a new 1.25% Levy to provide an extra £12bn a year to support the NHS and social care.