Chancellor's mini budget: the main points

Chancellor Kwasi Kwarteng has outlined a series of measures he believes will boost growth.

The basic rate of income tax has been cut to 19p in April 2023 and the top rate of tax for higher earners abolished
National Insurance contribution (NIC) rates will be cut by 1.25 percentage points for employees, employers and the self-employed, effectively reversing the uplift introduced in April 2022 for the rest of the tax year
A planned rise in corporation tax has been scrapped
The threshold before stamp duty is paid has been raised to £250,000
The cap on bankers' bonuses has been lifted
Low-tax investment zones will be set up across the UK.

Further information on the NIC rate cuts can be found by CLICKING HERE.

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