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.