2020 Budget

2020 Budget

In the first Budget in more than 16 months, and the first since the December general election, the new Chancellor, Rishi Sunak, set out a bold vision for a transformed UK.

Against a backdrop of a health epidemic, a falling stock market and a drop today in the Bank of England base rate (to its equal lowest of 0.25%), it was a Budget that committed to significant investment paid for with a growing national overdraft. Some of the key measures included:

  • The reduction in the lifetime limit for Entrepreneurs’ relief from £10m to £1m
  • Increasing the Structural Buildings Allowance to 3% and the R&D Expenditure Credit to 13%
  • The launch of a consultation to assess the attractiveness of the UK’s funds regime
  • Taking advantage of Brexit to remove the tampon tax
  • A range of initiatives to support business during the potential coronavirus epidemic

We’re pleased to deliver our initial response to the key tax implications from today’s announcements below.

More Info

Share this page