Personal Tax Planning for 2020/21

PERSONAL TAX PLANNING FOR 2020/21

What you need to know for the tax year.

The Government left it to the very last minute to announce its tax plans for 2020/21. Fortunately, Chancellor Rishi Sunak had few surprises up his sleeve in last month’s Spring Budget.

Three of the main taxes in the UK – income tax, corporation tax and VAT – saw their rates and thresholds frozen or, for income tax thresholds in Scotland, merely tweaked in line with inflation.