Last month we looked at what the impact the Truss premiership might mean for employment law. Part of this included tax changes implemented in Kwasi Kwarteng’s minibudget. What was not forecast was the Truss Premiership being like my email password: requiring change every 45 days!
He has already announced plans to scrap Kwarteng’s proposed income tax changes and also the plan to cut IR35. It is also expected that the basic income tax rate will drop from 20% to 19%. A full Autumn Statement will be made on or around 17 November meaning next month’s update should be able to provide better detail on what Sunak’s plans are for employment law.