Budget

Tax / Accountants expect corporation tax rise in Budget

A rise in corporation tax of up to 3% and an extension of covid-related measures to support businesses until the release of lockdown are likely priorities in the Budget on 3 March

Tax / Government to publish tax consultations on 23 March

In a change to the usual timing, the government will publish a number of tax-related consultations and calls for evidence at the end of March

Tax / Entrepreneurs need targeted support in Budget, says IoD

The Institute of Directors (IoD) is urging the Chancellor to put entrepreneurs at the heart of the recovery, and avoid damaging tax hikes, in its Budget submission

Tax / Is corporation tax set to rise in the Spring Budget?

As the Chancellor Rishi Sunak prepares to deliver his latest Budget on 3 March 2021, there is growing speculation that he may look to increase the UK’s corporation tax rate. Rob Chedzoy, tax partner at Milsted Langdon, questions the timing

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
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