Taxpayers only have a few weeks between the Budget on 11 March, and the end of the UK tax year on 5 April 2020, to consider whether any tax changes announced will affect their UK tax year-end planning.
In the 2019 Conservative party manifesto, Boris Johnson guaranteed that with a majority they would not raise the rate of Income Tax, VAT or National Insurance. Now with a large government majority, there is the possibility of some tax changes, which could affect year-end planning, so it would be sensible to keep a watching brief.
What should you do?
You should keep up-to-date with tax changes that are announced on 11 March 2020 and whether this changes your tax planning before 6 April 2020.