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Reports suggest that the Chancellor Rishi Sunak could increase limited company contractor taxes to help reduce Britain’s COVID-19 debt.
The Autumn Statement isn’t expected until mid-to-late November at the earliest, but the rumour mill is already beginning to swirl - and tax hikes for companies and contractors look to be on top of the Chancellor’s agenda.
Chancellor of the Exchequer Philip Hammond announced the date for the government’s Autumn Budget, which will take place on Wednesday 22 November.
Delivered after Prime Minister’s Questions, the annual budget statement is presented alongside the latest economic forecasts produced by the Office for Budget Responsibility.
The statement is both an appraisal of the state of the economy and a plan for how the government will respond.
The Autumn Budget has a little more significance attached to it this year because, for the first time in a while, there will only be one Budget statement held each year – in autumn.
