Chancellor reveals his plan for growth
The Mini Budget 2022
A statement from the Chancellor Friday 23 September
Before Mr Kwarteng stood up to make his statement on ‘The Growth Plan’ much of what he had to say about energy support for businesses and households, bankers’ bonuses, investment zones and reversals to NICs had already been announced.
The government also said that the Chancellor’s statement would not be subject to a forecast from the Office for Budget Responsibility. However, this did not stop the media from dubbing this event a Mini Budget.
The Growth Plan set out a new approach to the economy built around three central priorities:
• reforming the supply-side of the economy
• maintaining a responsible approach to public finances
• cutting taxes to boost growth.
One in four SMEs finding MTD ‘very challenging’
One in four businesses in the UK is finding Making Tax Digital (MTD) an ‘extremely’ or ‘very’ challenging issue, with concerns about the extension of the scheme to income tax. Learn more
UK property - overseas entities must register and declare their beneficial owners
The Economic Crime (Transparency and Enforcement) Act 2022 became law on 1 August 2022. This legislation applies to Overseas entities (particularly Branches) – whether already registered at Companies House or not, and individuals based overseas that wish to buy, sell, or transfer UK property or land. Learn more
Other Ward Williams Newsletters
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