A summary of the Budget 2020 from Bates Weston
We summarise the main points from the Budget 2020 and our tax team highlight the key points for business owners.
Changes to off-payroll working rules – IR35- will go ahead
Changes to off-payroll working rules -IR35- will go ahead in April following Treasury report.
Inheritance Tax Reforms?
Bates Weston’s Tax team take a critical view of the Inheritance Tax reforms proposed by the All Party Parliamentary Group (APPG). The suggested reforms to the current Inheritance Tax regime are proposals, not yet policy, and will be heavily lobbied against.
Lords committee launches IR35 inquiry
Concerned that the impact of planned changes to off payroll working rules or IR35 has not been fully assessed, the House of Lords Finance Bill Sub Committee has launched an inquiry.
Off Payroll Review Announced
The Govt has launched a review of changes to off-payroll working rules (often referred to as IR35) following concerns over the chances of a successful implementation from April 2020