Spring Budget 2020: Expectations

Chancellor Rishi Sunak will deliver his Spring Budget speech this afternoon, just 27 days after succeeding Sajid Javid.  It’s been a whirlwind month for the new Chancellor, who rewrote Javid’s speech before coronavirus forced another urgent rethink.  Whether...

IR35 set for ‘soft landing’ in private sector

Extending the off-payroll working rules to the private sector in April look set to go ahead, after the Chancellor hinted at a soft-landing period. Chancellor Rishi Sunak reportedly told a conference last weekend that HMRC would not be "at all heavy handed in the first...

Chancellor mulls pension tax relief reform

Chancellor Sajid Javid is reportedly considering cutting pensions tax relief for high earners in next month's Spring Budget. Media reports suggest Javid may be on the verge of reducing high earners' relief from their marginal rate of income tax to 20% to make the...

Income tax rates remain unchanged in Scotland

The Scottish Government has decided to freeze all income tax rates, plus the higher and top-rate thresholds for 2020/21. Assuming the personal allowance remains at £12,500, only the basic and intermediate thresholds in Scotland are set to rise in line with inflation....

Almost a million miss tax returns deadline

Nearly a million taxpayers missed last week's 2018/19 self-assessment deadline, according to HMRC. Official statistics showed, however, that a record 11,122,967 taxpayers out of 11.7m beat the midnight self-assessment deadline on 31 January 2020. Those with more than...