Reactions from haysmacintyre: UK mini-budget U-turn
19th October 2022
Since the sudden announcement of the mini-budget U-turn, many of us within the accounting industry have been left with a lot to say. Katharine Arthur, Partner and Head of Private Client, shares her reaction to the shock update and discusses her thoughts in the latest International Accounting Bulletin.
“The reversal of almost all tax cuts in the mini-budget, so soon after Friday’s corporation tax U-turn, is clearly a crisis response from the government. With the Bank of England now withdrawing support, it seems the Chancellor Jeremy Hunt is clutching at straws to rebuild confidence – and while the pound is seemingly rallying, one wrong step can turn the tides.”
To read Katharine’s comments in full, see more in the International Accounting Bulletin. If you need any advice or have questions following the announcements from the U-turn, please get in touch with our private client or corporate tax team and we’ll be happy to help.
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