[Euthymol]

Łapcie podsumowanie mini budżetu z piątku (fiscal event summary mini budget) #uk

Company and property taxation changes


UK Corporation tax – to remain at 19% for all profits and not increase to 25% in April 2023


Investment zones – Consultation with Local Authorities to identify and designate “Investment Zones” and these areas will benefit from tax incentives including:

Stamp Duty Land Tax – full SDLT relief for land and buildings bought for use or development for commercial purposes, and for purchases of land or buildings for new residential development.

100% relief from business rates on newly occupied business premises and certain existing businesses where they expand in English Investment Zone tax sites.

Enhanced Capital Allowance – 100% first year allowance for companies’ qualifying expenditure on plant and machinery assets for use in Investment Zones.

Enhanced Structures and Buildings Allowance – accelerated relief to allow businesses to reduce their taxable profits by 20% of the cost of qualifying non-residential investment per year, relieving 100% of their cost of investment over five years.

Employer National Insurance contributions relief – zero-rate Employer NICs on salaries of any new employee working in the site for at least 60% of their time, on earnings up to £50,270 per year, with Employer NICs being charged at the usual rate above this level.


Capital Allowances – permanent increase in annual investment allowance to £1m.


SDLT on residential property – increase to the values of thresholds where SDLT is payable


Property Value Standard Residential Rates Higher Rate (where this isn’t the only property you own or acquirer is a company)

£0 – £250,000 0% 3%

£250,000 - £925,000 5% 8%

£925,000 - £1,500,000 10% 13%

£1,500,000+ 12% 15%



First time buyer relief also extended to remove SDLT from property purchases of less than £425k and to provide some relief on purchase of property up to £625k (from £300k and £500k respectively)





Employee and Employer changes



National Insurance to decrease (reversal of change from April this year) by 1.25% as of Nov 2022 for both individuals and employers


45% income tax rate to be abolished, Basic rate tax to reduce to 19% from 20% and the 1.25% increase to Dividend tax to be revered all as of April 2023


There are also proposals to simplify off payroll working compliance for businesses

[m_bielawski]

@Euthymol: dalej nic nie zrobili z drugim progiem ani ukrytym podatkiem 60% między 100 a 125k :/

[bluehead]

ukrytym podatkiem 60% między 100 a 125k

@m_bielawski: ale kto zarabia 100k na etacie? Powyzej 70k to juz sie totalnie nie oplaca.

[m_bielawski]

@bluehead: wbrew pozorom sporo ludzi. Nie każdy może przejść na kontrakt.

Tak czy siak bardziej mnie boli to, że drugi próg dalej jest na £50k...

[nie_lubie_nowego_odtwarzacza]

@bluehead: praktycznie całe city, na kontaktach jest może z 10% osób