What’s round the Corner? (11/03/21 )
The recent budget has given a reprieve for those with latent capital gains, as the rate of tax was left unchanged. The budget clearly showed that the Chancellor will continue to support the economy and is content to postpone any policies required to pay for it. This sends a clear message to the economy and voters alike that the Government will do whatever is required to support growth as we begin to put the pandemic behind us and push on with our post-EU future.
In a change to usual practice, certain tax consultations and calls for evidence traditionally published on Budget Day will now be published on 23 March 2021, a date it is referring to as ‘Tax Day’. We think this consultation process is likely to extend to Capital gains tax and Inheritance tax, and we will be very keen to hear what the Chancellor has to say.
Should anyone wish to discuss these topics further, we would be delighted to hear from you.