Yet another chancellor – Big changes in the Budget?

Date posted: 3rd Mar 2020

It will be nearly 18 months since the last Budget and in the meantime, we will have had three different chancellors following the unexpected resignation of chancellor Sajid Javid. The early years of a new Parliament are a good time to make radical changes and many are predicting significant tax announcements on March 11.

Rather than increasing headline tax rates, it is understood that the Government is considering the abolition or restriction of many tax reliefs that we have got used to relying on. This would also have the effect of increasing tax revenue, but it is likely that the changes will impact on those who are better off.

If any of the updates in this article raise any issues for you or your business, please contact our Tax team here or call us on 01325 349700.

Read more below:

• Budget day is now the 11th March
• Conservative party elected with working majority

Read more March 2020 tax news below:

• The employment allowance – new rules
• Inheritance tax in the spotlight
• Will pension tax relief change on the budget?
• Consider other tax efficient investments
• Buy new equipment before 6th april
• Don’t lose your personal allowance!
• Year-end tax planning – CGT, ISA’s and pension planning