If you are self-employed or work via a company the winding back of many of the proposals in September’s mini-Budget have altered tax planning.
The range of tax and other changes proposed in September affecting companies and employment, included:
Less than a month later, the new Chancellor, Jeremy Hunt, culled the first three on this list, the fourth having been already scrapped by Mr Kwarteng. Mr Hunt might also have buried the fifth, too, were it not for the fact that the necessary legislation was just about to become law.
Mr Hunt’s reworkings of his predecessor’s plans has several implications for shareholder directors:
Yet again, this autumn has highlighted the need for advice in keeping abreast of tax developments and their consequences.