Suank’s budget speech naturally split into two parts which will effect our clients. Here is the lowdown.

We will continue to post responses to our clients most common questions on this page, so stay tuned for details.

More information will be released by our team on the links below as we have more information to give,

First Part of Budget


Second Part of Budget

  • No announced rate increase of Income tax, VAT. The Personal allowance will be frozen at £12,500. This in effect is a tax increase because national minim wage and inflation will mean rising costs, but static tax allowances given.
  • In 2023 – The rate of Corporation tax will increase to 25%. (From April 2023)  Plus small profits rate.
  • Carry back losses can be carried back for up to 3 years
  • New Superdeduction announced. 
  • Help to Grow – Government will contribute towards 90% of the cost of world leading management consultancy.  See more information at:
  • Unsponsored points based Visa applications announced.

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