The Government left it to the very last minute to announce its tax plans for 2020/21. Fortunately, Chancellor Rishi Sunak had few surprises up his sleeve in the Spring Budget.
Three of the main taxes in the UK – income tax, corporation tax and VAT – saw their rates and thresholds frozen or, for income tax thresholds in Scotland, merely tweaked in line with inflation.
However, there were changes to pensions and capital gains tax. Here’s what you need to know from April 2020.
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The views expressed in this article are the personal views of the Author and other professionals may express different views. They may not be the views of Lambert Chapman LLP. The material in the article cannot and should not be considered as exhaustive. Professional advice should be sought in connection with any of the issues contained in the article and the implementation of any actions.