Accountingweb

On this special year in review episode of the podcast, the AccountingWEB team is joined by Lucy Cohen to look back at the big stories hitting the profession in 2021. What a year it has been. The year started off with a series of compliance hurdles including the worst tax season ever, a tough lockdown, new Brexit VAT and custom rules, the VAT reverse charge and the IR35 reform was rolled out into the private sector.  Squeezed in between this was the first of two Budgets. The first of which was a leaky Budget in March which saw an extension to the furlough scheme and the introduction of the new three step BLT process (Budget, legislation and tax day) which replaced the crash-bang-wallop Budgets.  The second half of the year wasn’t much better. The furlough and SEISS schemes did wind down in the autumn, but accountants had skills shortages and a tough economic outlook to wrestle with instead.  And then there was the drama of Making Tax Digital. The digital rollercoaster took an unexpected sharp turn midway t