This Budget Summary from MHA Larking Gowen covers the key tax changes announced in the Chancellor’s speech, including measures to mitigate the impact of coronavirus, and explains how these changes affect businesses and individuals.
This summary covers the key tax changes announced in the Chancellor’s speech and includes tables of the main rates and allowances. At the back of the summary you will find a calendar of the tax year with important deadline dates shown. We recommend that you review your financial plans regularly as some aspects of the Budget will not be implemented until later dates.
The Chancellor had a difficult task in this Budget: to indicate how he might balance the Government’s books in the future, while still having to pay out huge sums to support the economy. He said that he would continue to provide ‘whatever it takes’ to protect businesses and jobs during the present crisis, while being honest about the need to ‘fix the public finances’ and setting out his plans to build the future economy…..to continue reading this article, and view the full analysis and tax year details, click here.
