This morning’s Retail Sales Statistics for May 2017 saw a slight “mayday” as spending fell across all retail categories by 1.1% compared to April. However, there could be a rescue recovery mission in the underlying figures, which actually show an overall increase compared to 2016. Phil Mullis, Partner and Head of Retail and Wholesale at top-20 UK accountancy firm, Wilkins Kennedy, said: “Even though there was an overall drop in spend from the previous month, these figures do not take into consideration the Easter Bank Holiday weekend, which would have had an impact. There are also other factors, such as the increase in average store prices, which increased 0.3% compared to April 2017.”
Last date for agreeing payment settlements agreements for 2016/17 if applicable.
End of tax year 2017/18
The Chancellor has delivered his last ever Spring Budget. With UK economic growth second only to that of Germany, he promised to provide Britain with a brighter future and set out measures to create a more competitive, fair and stable tax system.
Our 2017 Budget Hub contains all the details for personal and business taxation.