Other announcements made in the budget that may have an indirect impact on self-employed people and landlords include:
- The energy package, which will attempt to combat the cost of living crisis, contains components that will impact both businesses and individuals
- There will be VAT-free shopping for overseas visitors
- Planned increases in the duty rates for beer, cider, wine and spirits will be cancelled
- The planned increase in corporation tax has been cancelled (it remains at 19%)
- The cap on bankers’ bonuses will be removed
- The additional rate for savings, dividends and default rates will also be removed from April 2023, and this change will apply UK-wide.