HMRC

So, I was joking with the guys in the office and said "I hope Sunak turns up to the Budget and says he has nothing to report"... anyway, turns out I wasn't far off the mark. There was a lot of talking, some "hilarious" jokes and quite a lot of talk about alcohol, but I don't have an awful lot to report back about business and taxes. 

Here is a very brief Budget summary: 

1. The corporation tax rate increase is still going ahead in 2023.

2. The £1m annual investment allowance has been extended to March 2023.

From 1st April 2017 a new VAT flat rate of 16.5% applies for 'limited cost traders' with minimal expenditure on goods. 

A round up of key announcements from the Autumn Statement 2016, including changes to future Autumn Statement and Budget announcements.