In an update to the mini budget, the Chancellor has cancelled his plans to abolish the higher 45% rate of Income Tax. We have update our Mini Budget Summary Report to reflect this.
Update to Mini Budget October 2022
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Taxation
Taxation
Mini Budget 23 September 2022
The Chancellor has announced the Government’s growth plan and the tax measures that are included within it, in his mini budget. Here are the headlines.
Business Relief and Inheritance Tax Planning
An overview of Business Relief, formerly known as Business Property Relief and its importance in Inheritance Tax Planning.
The Spring Statement 23 March 2022
In his Spring Statement, Mr Sunak announced a 5p cut in fuel duty, an alignment of NI thresholds with personal tax allowance from July 2022, and promised a 1p cut in income tax, but not until April 2024.
Government response to Capital Gains Tax Review
A summary of the Government’s response to the recommendations made by the Office of Tax Simplification Capital Gains Tax Review
Autumn Budget 2021 what we know so far
What do we know so far about the Autumn Budget 2021? The spending announcements, the expected cuts and the possible tax changes.
Rishi Sunak and Capital Gains Tax
Did Rishi Sunak’s Conservative Conference speech give any clues about his plans for Capital Gains Tax?
What VAT rate applies to the hospitality industry from 1 October 2021?
Supplies made by the hospitality industry that have been subject to a 5% VAT rate since July 2020, will become liable to 12.5% VAT between 1 October 2021 and 31 March 2022.
Health and Social Care Levy
A summary of the PM’s statement on Health and Social Care, the introduction of the 1.25% Health and Social Care Levy from April 2022 and the lifetime cap on care costs of £86k from Oct 2023.
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