Budget 2020

12th March 2020

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On Wednesday the Chancellor announced the first of two budgets this year, as well as being a budget focused on minimising the disruption likely to be caused by the Coronavirus crisis, it was also the first budget of the new government setting out the pathway for the years ahead. 

As in previous years we have put together a comprehensive summary of the key changes affecting taxpayers and businesses for the new financial year and this can be accessed here: Budget Summary

Individuals

Businesses

Employers

Although the budget speech lasted for more than an hour there was in reality little in terms of content directly related to tax raising measures so  it seems the government is committed to borrowing the funds required to allow it to deliver its spending objectives in the short term.  That being said, it is likely the second budget speech, in late 2020, will see more focus on tax raising measures so the coming months should give us some indication of the government’s long term plans. 

To download our full Budget Summary setting out key tax information for the year ahead please click here: Budget 2020 Summary