UK chancellor Kwasi Kwarteng has unveiled what he claims are the biggest tax cuts of a generation. So how will this impact small businesses? Do we finally have a Conservative government doing conservative things??
It’s taken a global pandemic and a potential world war but the UK is finally scrapping the legacy and utterly bizarre National Insurance thresholds. From July 2022 our income tax and NI thresholds will align.
The 2020 budget has been long awaited. Delayed due to Brexit shenanigans, scuppered by a general election, complicated by a change of chancellor and then almost entirely wiped out by a global pandemic, this has been a hard one to get across the line. Across the line it is and Rishi Sunak did an admirable job. So what does it all mean for you hard working self employed folk out there? Let’s find out!