Advice on my simple effect system?

I'm currently practicing with inheritance by trying to make a simple effect/buff system and I would like some advice on how I could improve the code I did because it has been quite the struggle, but I finally seem to have something that works it can add and remove an effect and after the duration ends it gets removed

 public class Player : MonoBehaviour
 {
     public int speed = 5;
     public int jump = 10;
     public List<BaseEffect> effects = new List<BaseEffect>();
 
     void Update()
     {
         if (Input.GetKeyDown("q"))
         {
             AddEffect(new SpeedEffect());
         }   
 
         foreach (BaseEffect effect in effects)
         {
             effect.UpdateDuration();
             if (effect.isFinished)
             {
                 RemoveEffect(effect);
             }
         }
     }
 
     public void AddEffect(BaseEffect effect)
     {
         effects.Add(effect);
         effect.ApplyEffect(gameObject);
     }
 
     public void RemoveEffect(BaseEffect effect)
     {
         effects.Remove(effect);
         effect.RemoveEffect(gameObject);
     }
 
 }

 public abstract class BaseEffect : ScriptableObject
 {
     public enum EffectType
     {
         harm,
         self,
         help
     }
 
     public EffectType type;
     public float duration;
     public string description;
     public bool isFinished;
 
     public void UpdateDuration()
     {
         duration -= Time.deltaTime;
         if (duration <= 0)
         {
             isFinished = true;
         }
     }
 
     public abstract void Effect(GameObject target);
     public abstract void RemoveEffect(GameObject target);
 }

 public class SpeedEffect : BaseEffect
 {
     public SpeedEffect()
     {
         type = EffectType.harm;
         duration = 5;
         description = "Speed up";
     }
 
     public override void ApplyEffect(GameObject target)
     {
         target.GetComponent<Player>().speed += 5;
     }
 
     public override void RemoveEffect(GameObject target)
     {
         target.GetComponent<Player>().speed -= 5;
     }
 }