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.
Mini Budget 23 September 2022
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Income Tax
Income Tax
Spring Statement Summary 2022
A summary of the Spring Statement 2022 and a round up of the significant measures announced in the two 2021 Budgets that may impact your finances.
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.
Reporting tax on self-employed profits
Consultation document proposes moving from a current (accounting) year basis to a tax year basis for reporting tax on self-employed profits.
Plans to extend Making Tax Digital
On 21 July the government published its 10 year strategy for the tax system. This included its plans to extend the Making Tax Digital initiative.
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