Business news
R&D spending hits £47.5bn in 2019/20
Expenditure on R&D as percentage of GDP trails behind target.
Hospitality and tourism VAT rises to 12.5%
Trade bodies demand temporary rate be made permanent.
Furlough scheme ends after 18 months
Around 1m people were still furloughed.
Salary sacrifices ‘may mitigate the NICs rise’
Employees could benefit in the short-term.
What’s next for the state pension increase in 2022/23?
Government relaxes triple-lock rules due to distortions caused by the pandemic.
Income tax’s digital overhaul pushed back until 2024
HMRC postpones MTD ITSA and basis period reforms after listening to concerns.
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