This was a budget set against the background of the Coronavirus epidemic, for the Chancellor to provide the fiscal support to impacted businesses and services, while planning for the Government’s long-term priorities.
This was a budget to turn the spending taps on full: to invest in public services and to provide the promised Infrastructure Revolution; for ‘levelling-up’ opportunity across regions of the country that have supported the Conservative Party for the first time. Overall, it will be seen as good news for businesses, although there were relatively few tax measures overall with the majority of attention focussed on spending.
Guidance on Coronavirus (Covid-19) for SMEs
Budget 2020 Response Summary
Our key pre-Budget predictions
Stephen Hemmings – Entrepreneurs’ Relief Specialist
Entrepreneurs’ Relief (ER) may be under threat in the budget following the manifesto promise by the Conservatives to ‘review and reform’ ER.
Richard Godmon – Business Tax Specialist
Fiscal incentives to support innovative businesses and promote investment are vital as the UK navigates the uncertain Brexit transition period.