Fiscal Statement – Growth Plan Full Summary
The new Chancellor of the Exchequer, Kwasi Kwarteng, delivered his Fiscal Statement, also known as ‘The Growth Plan’ yesterday.
Fiscal Statement: The Growth Plan – changes to the Company Share Option Plan limit
The Chancellor announced as part of the Growth Plan that the Company Share Option Plan (CSOP) limit will be increased from £30k to £60k from April 2023. There will also be a reform on the rules around share classes eligible for CSOP from April 2023. CSOP is a tax-advantaged employee share option plan. In many […]
Fiscal Statement – The Growth Plan: Cancellation of Corporation Tax increase
The Chancellor has today confirmed the widely predicted cancellation of the increase in the main rate of Corporation Tax that was due to take effect from 1 April 2023. A previous Chancellor had announced that the rate was to be increased from 19% to 25%, a change which was included in the Finance Act 2021. […]
Fiscal Statement – Growth Plan: all change for employment taxes?
The Chancellor of the Exchequer, Kwasi Kwarteng, delivered his first Fiscal Statement today. However, in an unprecedented move, the Chancellor announced the following yesterday, before the Statement to Parliament: 1.25% increase in National Insurance (‘NI’) for both employer’s and employee’s NI that was introduced from April 2022 will be reversed from 6 November 2022 for […]
Fiscal Statement – Growth Plan Highlights
The new Chancellor of the Exchequer, Kwasi Kwarteng, delivered his Fiscal Statement (the Statement), also known as ‘The Growth Plan’ this morning. Reported as a “mini budget”, the Statement was neither a Budget nor mini, and with interest rates at their highest in 14 years and the Bank of England reporting that it believes the economy […]
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