It won't have escaped your attention that Chancellor Rishi Sunak has delivered the first Budget of this government.
These video round-ups from Technical Connection look at the headline measures from Budget 2020, and what these mean for financial planners and client conversations.
First up, joint managing director Tony Wickenden discusses, among other things, the reduction in the lifetime limit for entrepreneurs’ relief from £10m to £1m.
Tony also notes the provisions around so-called 'anti-forestalling measures' which take into account transactions made ahead of the Budget with a view to securing entrepreneurs' relief.
Meanwhile in the video below, head of pensions strategy Claire Trott talks through the changes to the income triggers for the tapered annual allowance.
Claire explains the increases to threshold and adjusted income as well as the higher lifetime allowance, and what these all mean for restarting contributions and redoing tax calculations.
Finally Niki Patel, who works in Technical Connection's editorial and technical consulting team, outlines the changes to the annual exemption for capital gains tax.
Niki goes on to discuss the eye-catching changes to life policy taxation and the legislation that's been introduced to clarify top slicing calculations with effect from 11 March 2020.
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