Emergency Mini-Budget – An overview

With much speculation over the direction of the new leadership, today the new Chancellor, Kwasi Kwarteng unveiled his plan with an Emergency mini-budget with a raft of tax cuts aimed at businesses. We’ve read through the documents and have created a summary highlighting the key points.


Corporation Tax


Income Tax and National Insurance Contributions


Stamp Duty & Land Tax


IR35/’Off payroll working’


Other announcements


Investment zones


If you would like to read the detailed Budget documents, they are available here

https://www.gov.uk/government/publications/the-growth-plan-2022-documents, along with other overviews and factsheets here https://www.gov.uk/government/news/chancellor-announces-new-growth-plan-with-biggest-package-of-tax-cuts-in-generations


We hope that this provides you with a clear breakdown of today’s announcements, however if you have any questions about the implications of these measure on your business, please do not hesitate to get in touch.