“Govt caves in to IR35 delay amid Covid-19 crisis”

Mar 20, 2020 | Tax

We’re all scrambling around for silver linings (think of all the books we can read/box sets we can watch/wine we can drink etc.). One is all the stuff the government will have to put on a possibly permanent back-burner. Not just Brexit (well, who knows?), but tax changes which would hit businesses which will already be hard hit, if not annihilated. Like the rules which were to make companies employ previously self-employed contractors. OK, it’s not much, but it’s something.

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“HMRC scraps plans to tax pensions after death”

“HMRC scraps plans to tax pensions after death”

A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.

“Raising IHT threshold could cost government £6bn”

“Raising IHT threshold could cost government £6bn”

Well, the lesson of this week in politics must be to expect the unexpected. Or, alternative interpretation, to expect more of the same. The speculation on the future of Inheritance Tax has switched from abolition to a rise in the amount of wealth you can have before the 40% payment hits.