In a letter released this week by Rishi Sunak, Chancellor of the Exchequer, it has been confirmed in agreement with the Prime Minister that there will be a multi-year Spending Review which will set resource and capital budgets for 2022-23 to 2024-25 and conclude on 27 October 2021, alongside an Autumn Budget 2021. Key reasoning for this budget is to ensure the UK continues to come out of the COVID-19 crisis and build for the future and will be a timely announcement which will give the payroll industry a reasonable period of time to review and ensure change will be in place for the 2022/23 tax year.
Further announcements would be expected prior to the budget and as usual we will be holding a webinar at the time of the budget to review the changes and announcements.
