Changes to the Mini Budget
This morning, the Chancellor, Jeremy Hunt delivered a speech on the changes to the mini budget previously announced last month.
The main changes announced were:
- No cuts to dividend tax rates
- Repeal of the easing of IR35 rules for the self-employed introduced in 2017 and 2021
- No new VAT-free shopping scheme for overseas visitors to the UK
- No freeze on alcohol duty rates
- Basic rate of income tax to remain at 20%, not to be reduced to 19% from April 2023
- Energy price guarantee only until April 2023, this will then be reviewed
- Cuts to stamp duty and National Insurance will stay in place.
If you have any questions regarding this then please do not hesitate to contact us.