Read our Budget 2021 highlights
Budget 2020 is dominated by Brexit, with the Minister setting out a range of measures to support businesses that will be negatively impacted by a no-deal Brexit. Brexit is also given as the reason for the minimal changes in personal tax, delaying or perhaps discontinuing a policy priority of recent budgets. Interestingly, this budget includes plans to tax dividend income in real time, which may become a feature of our tax regime in the not-too-distant future. While the budget includes the continuation or improvement of existing reliefs aimed at supporting businesses, many businesses may be impacted by changes to transfer pricing rules which are planned to apply to SMEs for the first time.
Should you have any taxation or business questions, our experienced team will be happy to share their insights with you.
Capital Acquisitions Tax