As many expected, the Chancellor announced a reduction in the ER lifetime limit from £10 million to £1 million for sales on or after 11 March 2020.
The detail released after the Budget speech included some anti-forestalling provisions to cover situations where taxpayers had tried to engineer an earlier tax point to avoid any changes to ER that they feared may be included in the Budget. This included the use of unconditional exchange of contracts and share for share exchanges prior to the budget date.