The December General Election meant that the Autumn Budget was delayed. We now know that Sajid Javed 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. It is unlikely that the planned rollout 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.
February 10th, 2020