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The 17 October 2022 fiscal statement: eye of, or calm after, the storm?

Insight

Downing Street

The mini-budget issued on 23 September 2022 was the start of more change than anyone predicted. This led to a change of chancellor and a fiscal statement being delivered on 17 October 2022 which overturned most of the announced changes in the mini budget. It has been hard to keep up with the rate of change, so we have summarised the key changes announced in the mini budget and what is now happening in the table below. It is likely that still more fiscal change will take place in the coming months.

If you require further information about anything covered in this briefing, please contact Claire Randall, Annabel Dean, James Bromley or your usual contact at the firm on +44 (0)20 3375 7000.

This publication is a general summary of the law. It should not replace legal advice tailored to your specific circumstances.

© Farrer & Co LLP, October 2022

 

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About the authors

Claire Randall lawyer photo

Claire Randall

Partner

Claire advises UK and international clients on their estate and tax planning affairs. She is recognised for her ability to find practical solutions to complex issues involving UK taxation, including for individuals moving to or back to the UK, and UK resident individuals setting up or benefitting from offshore structures and investing in the UK. Claire also has experience in making tax disclosures and settlements with HMRC.

Claire advises UK and international clients on their estate and tax planning affairs. She is recognised for her ability to find practical solutions to complex issues involving UK taxation, including for individuals moving to or back to the UK, and UK resident individuals setting up or benefitting from offshore structures and investing in the UK. Claire also has experience in making tax disclosures and settlements with HMRC.

Email Claire +44 (0)20 3375 7465
Annabel Dean lawyer photo

Annabel Dean

Partner

Annabel advises on all aspects of the acquisition and management of real estate, particularly residential property. Her clients include individuals, trustees and landed estates. Annabel also has a great deal of experience acting for lenders taking security over property.

Annabel advises on all aspects of the acquisition and management of real estate, particularly residential property. Her clients include individuals, trustees and landed estates. Annabel also has a great deal of experience acting for lenders taking security over property.

Email Annabel +44 (0)20 3375 7206
James Bromley lawyer photo

James Bromley

Senior Associate

James advises on a range of complex business and private tax matters. He helps clients with tax and structuring across the firm’s sectors, with a particular focus on real estate, entrepreneurial enterprises and family businesses.

James advises on a range of complex business and private tax matters. He helps clients with tax and structuring across the firm’s sectors, with a particular focus on real estate, entrepreneurial enterprises and family businesses.

Email James +44 (0)20 3375 7339

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