The Spring budget had two themes – “Building an economy that works for everyone” and “We are the party of the NHS”.
While there was considerable rhetoric related to these two themes, the measures announced to support them were rather prosaic with additional funding of £2bn for social care over a three year period and small allocations to other aspects of the NHS and a number of improvements to education. The problem being to match up statements of “too many families are still feeling the squeeze” with statements that “we will not saddle our children with ever increasing debt – there will be no 'unfunded spending'”
Anyway, the main point for tourism businesses was, as predicted, support for businesses suffering from increase Business rates and a promise that there will be consultation on a new way of calculating business rates before the next revision in 2022.
However, as many tourism businesses are owner-operated SMEs, there are changes tax treatments for NIC contributions and the tax treatment of allowances that will impact many tourism businesses.
General Economic Status
Tourism Related Issues
Infrastructure and Transport
Making Tax Digital
Return to Work Support