New Chancellor Rishi Sunak will stick to the 11 March Budget date despite an expected delay after Sajid Javid quit earlier this month.
Although Sunak may re-write some of Javid’s budget we are expecting that the tax measures in the Conservative manifesto will be announced again, together with confirmation that changes consulted on last year will be put in place.
Key tax announcements to listen out for include leaving the rate of corporation tax at 19% and an increase in the national insurance threshold. Unfortunately, it is unlikely that the planned roll out of the “off-payroll” working (IR35) rules to the private sector will be delayed.
The Chancellor is also expected to again announce a u-turn on the 2019 loan charge following a review of the legislation by Sir Amyas Morse.