UK Chancellor Jeremy Hunt gave his Spring Budget yesterday telling MPs “the OBR is now forecasting that there will be no recession”. Worth noting, no extension was given to the super deduction tax which WILL now end 31 March ’23 and the planned Corporation Tax rate increase IS going ahead from April ’23
Following the UK’s departure from the EU, Chancellor Rishi Sunak presented the 2020 Budget against a backdrop of economic uncertainty caused by the spread of the coronavirus.
HB Accountants’ “Be Informed” Budget Summary provides you with an overview of the key announcements arising from the Chancellor’s speech. Measures for businesses include a capital gains tax reduction in the Entrepreneurs’ Relief lifetime limit from £10 million to £1 million, together with changes to Statutory Sick Pay for employees advised to self-isolate because of the coronavirus.
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