12 Mar 2020
Rishi Sunak’s first Budget took place against the backdrop of the global outbreak of COVID-19. Not surprisingly the UK’s response to this was the initial focus – providing some much needed short term financial measures in the current uncertainty, from ensuring the NHS has sufficient budget to cope, to extending statutory sick pay rules that affect millions of workers.
The new Chancellor set out a Budget which supports the government’s ambition for a ‘fair and sustainable tax’ system.
Many rumours didn’t quite come to pass, we did not see an overhaul of inheritance tax, scrapping of Entrepreneurs Relief or an announcement of a wide spread review of pensions tax relief. But as expected we did see an increase in the Tapered annual allowance, and the good news was it was significantly more than expected, saving many from significant tax bills and the hassle of carrying out complex calculations.
Capital Gains Tax
Individual Savings Accounts (ISA)
Top Slicing Relief
Tax evasion and promoters of tax avoidance schemes
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