• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today!  028 3752 2909 or 028 8778 9500

  • Facebook
  • LinkedIn
  • Twitter

WHR Accountants

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH

Mobile Menu

  • James Robinson

Schedule A Free Consultation Now!

Find out how our law firm can help you win your case or you don’t pay a cent.

(800) 555-2840

  • Facebook
  • Google+
  • LinkedIn
  • Twitter
Home » Blog » Autumn Budget Reveals Extra Funding For The Northern Ireland Executive

Autumn Budget Reveals Extra Funding For The Northern Ireland Executive

November 1, 2021 By //  by Andrew Gilpin Leave a Comment

Business leaders in Northern Ireland welcomed the extra funding that is being made available to the country, funding that was announced in the Autumn Budget by Chancellor Rishi Sunak. The Executive will get, approximately, an additional £1.6 billion per year more to top up the annual baseline funding of £13.4 billion that they already receive.

As well as the above there will be an extra £235 million for 2021-22, and there will be further funding of £70 million to the British Business Bank, which will go towards the work they are doing with various partnerships in the country.

A Shot In The Arm For The Local Administration

In welcoming these announcements Kirsty McManus, national director at IoD NI, is quoted in an article on the Insider Media website as saying:

“The additional expenditure that will now be available to the Northern Ireland Executive as a result of the Chancellor’s Budget announcement will be a shot in the arm for the local administration.

“It is incumbent now on ministers to deliver on the incredible potential it presents, with a focus, through targeted investment in key services and infrastructure, on ensuring this region is fit to capitalise on the green recovery as we continue to emerge from the coronavirus pandemic.

“With a pot of £70m being made available to small and medium enterprise through the British Business Bank, there was much in the Budget to cheer local business leaders,”

Few Surprises Or Major Changes Revealed In Budget

In the same article however, Aisléan Nicholson, tax partner at Deloitte in Belfast, said that there were few surprises or major changes revealed by Rishi Sunak in his budget. She said:

” — as anticipated, given the significant tax measures already announced this year, including the increase in the main rate of corporation tax, the Chancellor’s Autumn Budget has introduced few changes of major significance from a tax perspective for people and businesses in Northern Ireland.

“The focus for HMRC in the upcoming period will be on concluding some of the many open areas of tax consultation, with the proposals for reform of the research and development (“R&D”) regime likely to be of key interest for many businesses here in Northern Ireland.

“While we await further detail of the measures, the Chancellor did confirm an extension to qualifying costs for R&D to bring in cloud and data costs, which will be welcome for many local companies, in particular our innovative tech sector. On the other hand, there will be a refocus of support towards innovation undertaken in the UK, which may be an area to watch for businesses which rely on non-domestic workers.”

If you have a business and you require help and advice on the forthcoming tax changes, or you have any other accountancy issues, please get in touch with our dedicated team here at WHR Accountants on 028 3752 2909.

Category: General

Looking for immediate answers to your questions?

Schedule a no-cost consultation today!

This is a very useful Call To Action in the “After Entry” widget area. You can put whatever you’d like in it, and change the background color to whatever you’d like.

You May Also Be Interested In:

Recruitment A Big Challenge For Business

Plenty Of Work But Plenty Of Worries Over The Cost Of Living

Consumer Confidence Takes A Hit As Prices Increase & Inflation Rises

Businesses Encouraged To Promote The Active Travel Challenge

Will A 4 Day Working Week Become The Norm?

Shops Suffer As Cost Of Living Crisis Bites

Price Rises Expected Across The Board From N Ireland Businesses

Covid Loan Repayments, Inflation & High Energy Prices Making Life Tough For Business

The Future Will Be A More Balanced Approach Between Working From Home Or The Office

Previous Post: « Executive To Engage With The Public On How To Get The High Street Buzzing Again
Next Post: Small Businesses Need Help In Cutting Carbon Emissions »

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

WE PROMISE YOU:

If you are finding the current economic situation tough, then rest assured, we understand the pressures you face as a business owner or manager. You don’t have to face the future alone. When you choose WHR, you have an ally, a partner, a friend, in both the good times and the tough times.

028 3752 2909
028 8778 9500

RECENT POSTS

Job Retention Scheme – Update

Dear Payroll Client We are trying to continue to run our …

Recruitment A Big Challenge For Business

In Northern Ireland we find ourselves in the relatively unusual …

Plenty Of Work But Plenty Of Worries Over The Cost Of Living

There are less people out of work in Northern Ireland as there …

Consumer Confidence Takes A Hit As Prices Increase & Inflation Rises

The latest analysis undergone by the Danske Bank has shown that …

Businesses Encouraged To Promote The Active Travel Challenge

The Active Travel Challenge is up and running in June when …

Will A 4 Day Working Week Become The Norm?

There has been much talk over recent years of becoming more …

Footer

Director

James Robinson

Head Office

WHR Chartered Certified Accountants
028 3752 2909 or 028 8778 9500

56 English Street,
Armagh
BT61 7LG

Contact Us

Contact our office today. Our team are ready to help you. There is no better time than now.
Click Here →

Follow Us

Keep up to date with our social media

  • Facebook
  • LinkedIn
  • Twitter
  • Blog
  • Specialist Services
  • Privacy Policy

Website created by ZebWeb