Your September business and tax updates
Published: 10 Oct 2022
Welcome to our September newsletter. I'm filling in for Alan Edwards this month, who is enjoying a well-deserved sabbatical!
I don't think I've ever seen a month quite like this September in all my career. We have had a new Prime Minister, the death of her Majesty the Queen after a momentous 70 year reign, a new monarch with King Charles III, a £60billion pound energy bailout to help tackle rising costs, and an emergency 'mini-Budget' which has been anything but mini.
Chancellor Kwasi Kwarteng has said his focus for the economy is on growth and introduced a raft of tax cuts. Our summary guide below helps explain the main measures that were announced on Friday's Emergency Budget, including the main rates and allowances. Please do take a look as there were a number of major changes announced.
Amidst the tax cut announcements, one item that hasn't had much attention is the change to IR35 'off payroll' working rules. We dive a little deeper into what those changes could mean. A further medium-term fiscal plan will be announced on 23 November with a full Budget to follow in Spring. We'll be sure to bring you all the latest announcements as we receive them.
We also have a busy Autumn events schedule, with seminars covering pensions, wills and succession planning for your business. Take a look and book yourself on to our free events if they're of interest to you.
I hope you enjoy this month's newsletter and if you have any questions about the Emergency Budget, please get in touch with your usual Carpenter Box contact.