25th November 2020
Welcome to the latest edition of our Private Client Briefing, which summarises a number of issues and opportunities for individuals, families and trustees.
With the recently announced second lockdown for England and the strict restrictions in Scotland, Wales and Northern Ireland, and indeed across Europe, the focus continues to be on COVID-19 support. The Job Retention Scheme, scheduled to end on 31 October, has been extended until March 2021. The Self Employment Income Support Scheme has also been extended and the maximum grants increased. The latest updates to the COVID-19 package are available on our website here.
In the meantime, we are fast approaching the end of 2020 and the end of the Brexit transition period, which will impact us all as individuals and businesses. We are also alert to the fast approaching Self-Assessment Tax Return deadline of 31 January 2021: given the continuing restrictions, please do send your tax return information as soon as possible, if you haven’t already done so.
Whilst the Autumn Budget was cancelled, we do still expect tax increases from next year, and this remains an ideal time to give your finances and tax planning an ’autumn clean‘: plan for Inheritance Tax and Capital Gains Tax in particular, before any increases.
All best wishes at this challenging time, from everyone at haysmacintyre: we look forward to hearing from you, if we can assist in any way.