Budget

Tax / Covid-19: guidance on small business and retail sector grant schemes

The government has published the details and eligibility criteria for the small business and retail sector grant schemes which form part of a £22bn coronavirus support package and have begun paying out

Tax / Budget 2020: tax-free childcare extended

The Budget has included a new measure to boost take-up of the tax-free childcare (TFC) scheme, by making it accessible to parents who use before and after school care

Tax / Accountants activate covid-19 contingency plans

Accountancy firms are putting contingency plans in place to ensure remote working is viable but the majority of practices plan to remain open and fully operational from their office locations until they are told otherwise by the government, reports Sara White

Tax / Rayney: it’s back to 2008 for entrepreneurs’ relief

The Budget 2020 decision to decimate the lifetime gains limit of £10m for entrepreneurs’ relief was hardly unexpeccted, but it does raise immediate questions about tax planning. Peter Rayney FCA CTA (Fellow) TEP examines the tax implications for business owners

Tax / Croner-i Budget 2020 webinar: watch here

Watch our exclusive Budget 2020 webinar for expert analysis by Croner-i tax experts on the major tax measures announced by the Chancellor, Rishi Sunak

Tax / Budget 2020: extra powers for HMRC to combat tax avoidance promoters

The government will ramp up its campaign against promoters and marketers of tax avoidance schemes by taking swifter action and charging 100% penalties on the fees they earn, reports Zak Jakubowski

Tax / Budget 2020: VAT threshold frozen at £85k

The VAT threshold has been held at £85,000 in Budget 2020 with the government committing to its triple lock on VAT rates but has outlined plans for a number of reviews in light of the UK’s departure from the EU

Tax / Budget 2020: tax announcements at a glance

The complete collection of Chancellor Rishi Sunak’s Budget announcements on tax with expert analysis and highlights of individual tax measures from Accountancy Daily

Tax / Family owned businesses hit by slashed entrepreneurs’ relief

The virtual abolition of entrepreneurs’ relief in Budget 2020 came as a blow to family owned businesses as the tax break is cut to £1m with immediate effect. Philip Smith assesses the fallout 

Tax / Nunn: winners and losers in Budget 2020

A mixed Budget of emergency measures for businesses and longer term plans for investment in innovation and changes to tax reliefs has tried to address the immediate concerns of businesses, says Yvette Nunn

Tax / Budget 2020: R&D tax breaks offer limited support for innovation

Breaking the austerity approach of recent years, the Chancellor signalled a multibillion investment in research and development (R&D) and innovation at the Budget. Stuart Weekes, partner, and Caroline Hunt, director, corporate tax at Crowe, consider whether the tax measures go far enough to stimulate growth

Tax / Budget 2020: reduction in carried-forward capital losses

The Chancellor has announced a restriction in the amount that companies making chargeable gains will be able to offset using carried-forward capital losses, which will now be cut to 50%

Tax / Budget 2020: continued rebalance of climate change levy

Chancellor Rishi Sunak announced changes to the climate change levy (CCL) to continue to rebalance the electricity to gas ratio

Tax / Budget 2020: consultation on RPI methodology launched

The Budget included confirmation the government and the UK Statistics Authority (UKSA) are to consult on a proposal to address the shortcomings of the Retail Prices Index (RPI) measure of inflation, which is widely viewed as flawed

Tax / Nunn: Budget lukewarm on climate change measures

Rishi Sunak’s first Budget failed to prioritise climate change with only limited tax breaks to invest in zero emission cars as coronavirus swept other global issues aside. Yvette Nunn, director of Berkeley Associates on a lost opportunity
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