Now our present Prime Minister has indicated his intention to resign it seems unlikely that a successor will be appointed before September.
Which means Boris Johnson’s cabinet are caretakers for the interim period and it is doubtful that there will be any far-reaching changes to UK taxes.
The new Prime Minister and his or her Chancellor will want to stamp their authority on legislation when in post in which case it is possible that we will have an early Autumn Budget this year.
Be prepared for extremes. Higher taxes, lower borrowings and reduced public expenditure is one possibility, the other, lower taxes and initially, higher borrowings.
We shall see.
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- Autumn Statement 2022 - November 18, 2022
- Payment plans help rising number of Self Assessment customers - November 16, 2022
- HMRC brings in profit-assessment change for sole traders and partnerships - November 15, 2022
- Plan to future-proof UK economy unveiled at expo - November 11, 2022
- Do not let COVID-19 payments slip off the radar - November 8, 2022