The Chancellor recently announced that the 2020 Budget will be delivered on Wednesday 11 March. The 2020 Budget will be the first to be delivered after the UK’s departure from the EU.
In light of this we thought let’s remind everybody that there is still time to save tax for the current tax year.
First though some rumoured changes to come in March; stress the ‘rumoured’ changes:
- The proposed reduction in corporation tax rate from 19% to 17% may be scrapped.
- Entrepreneur’s relief might be scrapped and this may come sooner than 5 April 2020.
- New student loan repayment system to come.
- Off-payroll working working rules are changing and this is a little more than rumoured but we are expecting a lot more clarification over the coming weeks.
There is one thing certain though, there is still time to put things in place now so don’t waste any time and get in touch with your client account manager today.
Whilst tax planning remains a key consideration, it is also a great time to revisit or even start looking at your retirement plans.
Let’s dovetail the two and ensure that you are financially sound from all angles.