Ahead of the spring budget the ICAEW has called for the government to ‘focus on delivering existing plans and Covid support packages’

Chancellor Rishi Sunak is reportedly looking to raise corporation tax in the upcoming March budget to pay off the estimated £400bn borrowed by the UK throughout the pandemic.  

According to The Financial Times, the alleged move has sparked uproar among business owners who claim they are still struggling with the economic impact of Covid-19.  

However, it is believed the Sunak sees the decision as a “matter of fairness”, with the chancellor holding the view that companies have benefited from millions of taxpayer support throughout the ongoing crisis. 

Source – Accountancy Today