Budget Day is now 11 March
The December General Election meant that the Autumn Budget was delayed and we now know that Sajid Javid will deliver his first Budget on the second Wednesday in March which is when Budget day used to be!
We are expecting that the tax measures in the Conservative Party manifesto will be announced again together with confirmation that changes consulted on last year will be put in place.
Key tax announcements to listen out for include leaving the rate of corporation tax at 19% and an increase in the national insurance threshold. Unfortunately, it is unlikely that the planned roll out of the “off-payroll” working (IR35) rules to the private sector will be delayed.
The Chancellor is also expected to again announce a u-turn on the 2019 loan charge following a review of the legislation by Sir Amyas Morse.
If you require any assistance or would like to discuss your tax affairs in more detail please contact our Tax Partners, Steve Crompton or Lucy Williams, on the details below: