U-turns to steady the financial markets

In his Fiscal Statement delivered on 23 September 2022, the previous Chancellor, Kwasi Kwarteng, introduced a Growth Plan including the tax cuts […]

The legislation to abolish the 1.25 percentage point increase in the rate of National Insurance Contributions (NICs) paid by workers, employers and […]

On 23 September 2022, it was announced that the Stamp Duty Land Tax (SDLT) nil-rate threshold on residential property would be increased […]

Another of Liz Truss’ flagship policies was to halt the planned rise in corporation tax rates from 1 April 2023. These increases […]

Undoing all measures announced since 23 September 2022, the rates of income tax applicable to non-dividend income remain as they are now; […]

The corporation tax rate increases and the continuance of the higher income tax rates on dividends will impact on the profit extraction […]

The 23 September Fiscal Statement included the unexpected news that the “off-payroll working” (OPW) rules would be scrapped from 6 April 2023. […]

The Government will continue to support business capital investment by keeping the level of the 100% Annual Investment Allowance (AIA) at £1 […]

The Government will continue to support the Seed Enterprise Investment Scheme (SEIS), although we still await further detail. In the original 23 […]

It should be noted that there has also been a U-turn on the original 2-year cap on domestic gas and electricity tariffs. […]