Stewart Associates (Shrewsbury) Ltd
Emstrey House (North), Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG.

Telephone: 01743 235236   Email: enquiry@saltd.co.uk

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11 March 2020

Budget Speech 2020 - 11th March

Well most of the speech concerned non-tax matters particularly short-term measures regarding The Virus and public expenditure which in the main are not issues for this note.
The only taxation matters I noticed being mentioned in the speech (taking Alcohol duties as non-tax) are:-

  • Entrepreneurs Relief - although the tax has not been scrapped it is reduced to £1 million of gain per individual (£2 million for a couple).
  • Corporation Tax - rate remaining at 19%
  • Tax avoidance - more resources for HMRC.
  • NI - employee/self-employed starting rate increased from £8,632 to £9,500
  • NI employment allowance increased from £3,000 to £4,000
  • Pension contribution tapering rules relaxed

 

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