The UK Government is preparing to hold a mini fiscal event later this week with reports indicating that this will take place on Friday 23 September. The new Chancellor Kwasi Kwarteng is also expected to set out more detail on the recently announced energy supports. A full Budget is still expected to take place in the autumn as normal. Next week’s Chartered Accountants Tax News will feature the detail of the tax announcements made in Friday’s mini fiscal event.
The energy bill support previously announced is expected to start for households from 1 October though it is not yet clear how the scheme will work in Northern Ireland. Detailed plans for businesses are not expected to be available until later in the year but are expected to be backdated to the start of October and will last for a six month period.