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Budget Report 2021
The Chancellor, Rishi Sunak, set out the Government's tax and spending plans for the year ahead, announcing further support for jobs and businesses through to autumn, and beyond.
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Budget: Investment in HMRC
The Government will invest heavily in a Taxpayer Protection Taskforce of 1,265 HMRC staff to combat fraud within COVID-19 support packages, inclusive of CJRS and SEISS.
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Budget: UK’s domestic legislation
Today’s Budget includes a repeal of the UK’s domestic legislation implementing the EU Interest and Royalties Directive (IRD), effective from 1st June 2021.
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Budget: VAT
The reduced rate of 5% VAT which was brought in to support the hospitality sector will remain in force until the end of September 2021.
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Budget 2021 highlights
The Chancellor Rishi Sunak delivered his second Budget earlier this afternoon, setting out his three point plan to protect jobs and livelihoods, fix the public finances and build the future economy.
