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Budget 2020: latest news and analysis from ICAEW

Latest reporting on Chancellor Rishi Sunak's first budget.

Budget 2021 date confirmed


17 December 2020: Rishi Sunak has confirmed that Budget 2021 will take place on 3 March and will provide further information on COVID-19 support packages.

Tax news in brief


17 November: Highlights from the broader tax news this week includes: confirmation from the Scottish Government and Welsh Assembly of their planned Budgets, HMRC clarifying VAT liability of school holiday clubs and acceptance of digital signatures for CGT hold-over relief.

Speculation rife over ‘Emergency Budget’


1 June: Reports in the mainstream press suggest that an emergency Budget will be held in the week commencing 6 July, but there has been no confirmation from Treasury.

IFS: deficit to triple as budget contingency increases


30 March 2020: the Institute for Fiscal Studies (IFS) has suggested that the budgeted fiscal deficit for the financial year starting 1 April 2020 of £55bn could more than triple to £177bn due to the coronavirus pandemic.

Highlights of HMCR’s latest Employer Bulletins


17 March 2020: ICAEW’s Tax Faculty summarises HMRC’s latest Employer Bulletins, which included commentary on the Budget announcements and information on the changes to off-payroll working.

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