Tag: Finance

Sep 23

The Chancellors’ winners and losers

High earners will benefit most from today’s mini budget announcement. Speaking to Business Matters Paul Haywood-Schiefer, Senior Manager at leading tax and advisory firm Blick Rothenberg said: “The reversal of the recent increase to NIC rates will provide savings to all earners, where their income is above around £10,000 per annum (and assuming similar reductions are made […]
Sep 23

IR35 reforms to be scrapped in April 2023

Reforms to the off-payroll working rules, known as IR35, are to be scrapped from April 2023, the Treasury has announced. This will mean that from 6 April 2023, contractors working for an organisation via an intermediary will once again be responsible for determining their employment status and paying the appropriate amount of tax and national […]
Sep 23

Chancellor scraps 45p top rate of income tax

Kwasi Kwarteng has announced that he will scrap the top 45p rate of income tax and cut the basic rate of income tax by 1p next year as part of a “bold and unashamed” push for growth. The chancellor announced £50 billion worth of tax cuts including scrapping the rise in national insurance, freezing corporation […]
Jul 15

Defaults set to soar as borrowing costs bite

Higher central bank interest rates will trigger a wave of corporate defaults as companies struggle with higher borrowing costs and the threat of a global recession, fund managers have warned. A quarterly survey of global money managers said that company defaults were set to climb from very low levels during the pandemic as monetary policy […]