The long-awaited Budget was announced today and it is fair to say it has met expectations.
We always expected Mr Sunak to keep pouring money into the Covid response by extending the furlough scheme until as late as September, and retaining other bailouts, however, the Chancellor also laid out a timetable of hikes to bring in more revenue and stop debt spiralling out of control.
You can find the AIMS March 2021 Budget Update here.
Although we have been promised our lives would be back to normal after June 21, the furlough scheme and other financial support measures have been extended until September. We will have to wait and see what happens but this might be a slight dampening on the government’s previous optimism, we just hope that’s not the case.
As always, any AIMS Accountant will be happy to talk through in more detail what these new announcements mean for you and your business.