Insights

Autumn Budget 2021: Our team reacts

Initial reactions to the Autumn Budget 2021 from our Tax experts

 

A very technical budget, with minor changes to the tax system rather than major reform. A definite focus on leaving the EU, and the flexibility that this affords in changing the structure of some taxes.” 

Chris Riley, Head of Tax

Increasing the deadline for reporting residential property disposals to 60 days is a very welcome change, the original 30 days put a large amount of pressure on taxpayers that may not have been aware of the requirement.”

Phil Clayton, Senior Manager

 

Many innovative companies sourcing cheaper labour overseas will be dismayed to hear that Rishi Sunak has announced foreshadowed plans to restrict R&D relief on overseas expenditure. It’s not all bad news though, with qualifying costs to be expanded to include cloud computing and data expenses.”

Shona Barker, Senior Manager   

 

Reforms of R&D reliefs to focus on UK spend, but also include Data and Cloud Computing costs will give rise to both winners and loser.”

Chris Riley, Head of Tax