The past few months have been very challenging for the majority of businesses, large and small. Not just locally or nationally, but on an international basis, requiring owners, managers and directors to juggle various important factors such as staffing levels, financing options and cashflow implications, let alone the issues and changes arising in everyone’s personal lives.
Individuals relocating from, or to the US can face particularly challenging tax situations when compared to other jurisdictions, not least dual reporting requirements and very conflicting approaches to taxing the same sources of income or gains.
The last few weeks have been filled with speculation about what the Chancellor’s expected October budget would contain and everyone was braced for increased tax rates in some shape or form. However, with the budget now pushed back to the Spring of 2021 the Chancellor instead delivered his Winter Economy Plan with a range of measures to support jobs and businesses over the next few months.