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Recent press reports have speculated that the Chancellor, Rishi Sunak, is set to increase the main rate of UK corporation tax rate (currently 19%), with some reports predicting a sharp rise to 25%. 

Although making predictions is fraught with danger at the best of times - let alone during a global pandemic – here are three property-related tax announcements we would not be surprised to hear on 3 March.   

Whatever the Chancellor announces in his forthcoming Budget, employee share plans will continue to play an important role as companies move forward from the Covid-19 pandemic. The tax-advantages that share-based awards can enjoy are a key feature, however, equally important is the impact that share-ownership can have on boosting employee morale, motivation and aligning their interests with other investors.

With the number of articles speculating on a potential increase in corporation tax or CGT rates, or the implementation of a wealth tax, it is easy to overlook possible changes to the tax compliance and enforcement landscape. However, given the number of new measures announced in the past year as part of the fiscal stimulus package to support the economy, and a tax gap of 4.7% of tax liabilities, it is also likely that the government will continue the development of its proposals to tackle tax evasion, tax avoidance and tax non-compliance.