Mini Budget Update – October 2022

October 19, 2022

On Monday, the new Chancellor, Jeremy Hunt, announced a number of changes to the Mini Budget put forward by his predecessor Kwasi Kwarteng.

The update included the reversal of many of the proposed tax cuts and the potential shortening of support for energy bills.

There were some significant changes to the Mini Budget, which could have major impacts on you and your business. Changes were made to the following:

  • Corporation Tax
  • Dividend tax rate
  • Income tax – basic rate
  • Income tax – top rate
  • IR35
  • Alcohol Duty
  • VAT

You can read a summary of all the changes to the Mini Budget in our Mini Budget Update.

Our team is always on hand to offer advice and support.  If you would like to speak to a member of the team or have a specific query, then Contact Us today.

Gary Olding

Gary is the National Head of Tax and oversees our Tax Compliance and Medical Tax Teams. When not dealing with clients he is supervising operations, troubleshooting, and optimising workflows.

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