Chancellor Kwasi Kwarteng’s mini budget seems like a major give away.
However, corporation tax, annual investment allowance, diverted profits tax, national insurance rates and dividend rates will remain the same as they were in April 2022 before the cost of living crisis began. In our mini budget summary we provide an overview of all these changes.
Liz Truss’s Government is not ashamed of the mini budget benefiting the wealthier members of our society as it is clearly implementing a trickle-down economics policy on a scale last seen in the Thatcher era. However it is hoped that Liz Truss’s Government has more announcements that will help to improve these services.
But, we are left wondering if the alcohol duties are being kept the same to enable us to drown our sorrows…
If you would like to discuss how the changes to the mini budget will affect you, contact any of the CavanaghKelly team.
Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.