Businesses are to get an extra year to prepare for the digitalisation of income tax, HM Revenue and Customs has said.

I have to confess to being in two minds about the key announcement from the Government this week about the rise in National Insurance and dividend taxation, ostensibly to pay for social care.

The Prime Minister has announced rises to dividend and share tax and a rise in National Insurance from April 2022 to address the funding crisis in the health and social care system.

Inheritance tax receipts rose 33% year on year between April and June to £1.5bn, according to recent data published by HMRC.