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2020 Budget review: Whatever it takes to support the UK Economy

13.03.2020

Private Client

Our new Chancellor has delivered the long-awaited Budget after less than a month in office.  Rishi confidently announced measures to address the economic challenge of COVID-19 whilst delivering a budget that provides ‘security today’ and a ‘plan for prosperity’ tomorrow. 

 

2020 Budget Review

 

 

 

 

Key announcements were:

Following the recent Government review, the off-payroll working rules are still to be implemented from April 2020 and CGT will be reportable and payable to HMRC on the disposal of residential property within 30 days from completion.

 

We’re still expecting Inheritance Tax to be reformed and wonder what its impact will be on our client’s existing arrangements and future plans…

 

Despite all odds, it is predicted that the UK economy will grow. This budget will be followed by a Spending Review and very likely, another Budget in November.

 

If you miss Sarah Tucker and Nicola Valentine reviewing the 2020 Budget with Neil Whiteside on Cambrige 105 you can listen again.

 

 

 

 

 

We live in uncertain times.  CKLGs tax advisers offer a proactive and bespoke service to help you along your journey, call our Cambridge Tax team on 01223 810100 to discuss how Budget 2020 may affect your plans.

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