Following the change in Chancellor to Jeremy Hunt, a number of the previously announced tax changes from the Mini-Budget have now been, to a large extent, reversed. Managing Director Kersten Muller was quoted in four publications regarding these UK Mini-Budget u-turns. Read his comments below: 

Published in Fleetworld and Property Week on October 17, 2022  

“The Chancellor’s decision to scrap nearly all the tax cuts announced in the mini-budget is centred around restoring the Government’s economic credibility. By limiting the energy price guarantee to six months, followed by a more targeted approach, the Chancellor also appears to signal that he expects the better-off to contribute more."

“Beyond aiming to deliver economic stability for UK businesses, there was little in today’s statement about encouraging companies to invest more in Britain. Whilst the planned scrapping of the “off-payroll working rules” will not go ahead any longer, a review of the system is still needed to ensure businesses and individuals can comply with its requirements.”

Published in Mortgage Strategy and The i on October 14, 2022

[“At the time of the now infamous ‘mini budget’, it looked likely that the UK corporation tax rate cut would be revisited. The expectation was for a middle ground between the current and proposed rate.”]

“The increase from 19 per cent to 25 per cent seemed quite high, but the reality remains that the new rate will not be a hugely significant deciding factor on whether businesses want to establish and grow in the UK."
 
“It is therefore not surprising that the rate cut has now been reversed."

[“Corporation tax is one of the tax costs businesses have to consider, but the rate does not take into account that some sectors could really benefit from targeted support whilst others are doing well, even in the current environment.”]
 
“More targeted measures like support for green initiatives and capital allowances would be more effective in driving investment and growing the economy.”