You could be forgiven for being a bit disappointed with the content of the Budget – not an awful lot of surprises in it and of course much of it leaked beforehand!

One of our partners, Freeagent, has put together key points of the announcement so you can click on the link below.

https://www.freeagent.com/blog/autumn-budget-2021

The two things that jumped out to us were 1) the extension of the capital gax tax window from reporting within 30 days to reporting within 60 days – a welcome extension to taxpayers and agents alike, I am sure; and 2) the change to the basis period.   This latter point refers to the issue of bringing basis periods in line with fiscal periods.   Last time there were changes to the basis period, there was a large time lag between the introduction of the legislation and the implementation of the legislation.   It is not the case this time, so watch this space – we shall come back to you with more details.