Hallidays share March financial news update ahead of end of Spring Statement and end of Covid-19 support

Stockport accountancy firm Hallidays share their round-up of the top financial stories of the month, as Covid-19 support schemes come to a close and the business world prepares for the Chancellor’s Spring Statement.

Spring Statement is the time to act, says CBI
The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI).
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Coronavirus SSP Rebate Scheme set to close on 17 March
The Statutory Sick Pay Rebate Scheme (SSPRS) will close on 17 March 2022.
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Businesses urged to apply for remaining COVID-19 support grants
Businesses are being encouraged to apply for remaining coronavirus (COVID-19) grant funding from local authorities.
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Two freeports planned for Scotland
A partnership agreement to establish two green freeports in Scotland has been reached between the Scottish and UK governments.
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HMRC raises late payment interest rate
Following the decision by the Bank of England to increase the base rate, HMRC has confirmed that the late payment interest rate rose a quarter of a percent.
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MPs call for road pricing to replace motoring taxes
The government must overhaul motoring taxes as it phases out new diesel and petrol vehicles, according to MPs.
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Over a million take advantage of extra time to file self assessment returns
HMRC has revealed that more than one million taxpayers filed their late tax returns in February – taking advantage of the extra time to complete their self assessment without facing a penalty.
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Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 March 2022.
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