{"id":4498,"date":"2021-03-16T14:03:24","date_gmt":"2021-03-16T14:03:24","guid":{"rendered":"https:\/\/www.georgehay.co.uk\/blogs\/?p=4498"},"modified":"2023-11-17T16:37:07","modified_gmt":"2023-11-17T16:37:07","slug":"tax-day-2021-what-can-we-expect","status":"publish","type":"post","link":"https:\/\/www.georgehay.co.uk\/blogs\/2021\/03\/tax-day-2021-what-can-we-expect\/","title":{"rendered":"Tax Day 2021; What can we expect?"},"content":{"rendered":"

Just weeks after the Chancellor’s Spring Budget, the Treasury will hold what is being dubbed \u2018Tax Day\u2019 on 23 March.<\/p>\n

A raft of consultations which relate to tax policy, but that do not impact upon Government finances, will be released together on this date.<\/p>\n

Tax Day to bring greater transparency<\/h5>\n

Whilst not ground-breaking, it is a decision which should allow for more transparency and greater scrutiny of documents; documents often overshadowed by other important Budget announcements. Ultimately, this should serve to improve policy-making.<\/p>\n

We are likely to see consultations dealing with tax administration, whilst others may set the tone for an Autumn Budget.<\/p>\n

Arguably, Tax Day could prove to be as important as the main event, for businesses and individuals.<\/p>\n

It will be interesting to see how the government propose to modernise the tax administration system; especially with remaining VAT-registered businesses, as well as many other self-employed businesses and some landlords, being required to follow MTD in the coming years.<\/p>\n

Considering the unprecedented spending on COVID-19, we may also begin to understand the Government’s intentions in relation to any future tax rises.\u00a0– Sarah Dixon, Tax Manager<\/p><\/blockquote>\n

How can George Hay help?<\/h5>\n

We await publication of these consultations with interest.<\/p>\n

If you have questions or concerns, in the days after, we encourage you to contact us<\/a>. Our team of chartered accountants, tax specialists and business advisers, operating in Cambridgeshire, Bedfordshire and Hertfordshire, can explain what any developments mean for you.<\/p>\n

Our Budget Summary<\/a> is a great place to start, to first familiarise yourself with the Spring Budget announcements.<\/p>\n","protected":false},"excerpt":{"rendered":"

Just weeks after the Chancellor’s Spring Budget, the Treasury will hold what is being dubbed \u2018Tax Day\u2019 on 23 March. 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