October 2022

PM Truss u-turns on corporation tax rise

Prime Minister Liz Truss announced on Friday that Britain's corporation tax will be increased to 25% after sacking finance minister Kwasi Kwarteng. The Minister of Finance, Kwarteng, stated in a "mini-budget" on September 23 that corporate taxes would be frozen at 19%, reversing a rise to 25% announced by his predecessor, along with a number of other unfunded tax cuts that have since roiled the...

What can you do about the rising UK mortgage rates?

As a result of the fallout from the mini-budget, interest rates on new mortgages continued to rise this week. For first-time buyers and those looking to remortgage, the higher rates mean much higher monthly payments. What can you do about the situation? Mortgage lenders have now re-entered the market following the financial turmoil caused by the 23 September mini-budget. On Monday, NatWest relaunched...

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