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Private client tax in 2020: the covid-19 effect

It’s been a year of relative stability for the private client tax world, explain Claire Weeks and Rebecca Waterhouse  (Maurice Turnor Gardner).

2020 has been dominated by the global fight against covid-19 even eclipsing Brexit which would have seemed impossible just a year ago. From a private client tax perspective this has resulted in a remarkably stable year as the government’s attention has been focused elsewhere. The Budget delivered on 11 March was the first in nearly 18 months (as well as the first for Rishi Sunak and the first of the new decade) and was widely expected to include tax rises for the wealthy and reforms to IHT. Instead the Budget was one of the quietest for years in terms of tax changes for private clients although it did of course include a further warning on tax avoidance evasion and non-compliance.

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