What’s in store: the Conservative Party’s tax pledges

Looking back, the Conservative Party manifesto was relatively restrained on tax in comparison to the manifestos of other parties; however, given the majority of seats that the Conservative Party secured in the 2019 election, it is unlikely that the chancellor’s first Budget this spring will be so subdued. Entrepreneurs’ relief and taxing the wealthy will be on the agenda. A review is also promised in relation to the off-payroll workers rule, but the timing puts some doubt into its thoroughness and usefulness given the preparations that businesses will need to make ahead of the rules coming into effect from April 2020. Businesses hoping for a reprieve from the digital services tax will be disappointed, and they will need to make plans to start collecting the new revenue tax while waiting for final legislation.