I did hear one commentator call it a ‘mini’ budget but then followed that up with that there will be nothing mini about it.
What we have heard rumoured is coming is:
- A reversal of the National Insurance increase that took effect from 6 April 2022.
- A promise of more tax cuts – Corporation tax increase to 25% to be cancelled, perhaps?
- More detail as to how the funding of the energy crisis support, that was announced, pre the Queen’s death, will be paid for.
- I did hear that the new Chancellor, Kwasi Kwarteng, had a proverbial ‘rabbit to pull out of his hat’, something that a lot of Chancellor’s in recent memory have done, but no rumours of what that may be have been leaked.
What is for sure is that we at UHY Hacker Young will have the announcements covered and anything that needs to be unpacked and explained will be, by our experts on the day.
The next step
Any changes in the budget may present opportunities to entrepreneurs but time will be tight, if you want to discuss any aspect of the budget or the anything else then please contact your usual UHY contact.
