Tax changes announced in Budget 2020

Having been parachuted into the job only a few weeks ago the new chancellor Rishi Sunak made a confident start with his first Budget and the first since 2018. Given that the country and the world is reeling from the coronavirus the implications of this on the country its people and its businesses figured large but what were the more immediate personal and business tax implications for tax advisers and their clients?

Personal tax

The chancellor had no particularly surprising new measures for personal taxpayers in his Budget. As ever and despite the lack of a Budget at all in 2019 many had been pre-announced.

National Insurance

The thresholds at which employees and the self-employed start paying National Insurance contributions will be increased to £9 500 from April 2020. According to the Treasury this will remove about...