Budget 2020 – a summary and response

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 - Menzies Accountant

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 - Menzies Accountant

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.

Follow the latest Budget news from Menzies and HM Treasury