Mini-Budget 2022 – An analysis

Kwasi Kwarteng the Chancellor, revealed a so-called Mini-Budget on Friday – and we’ve already analysed what it means for you and your business. We will be looking more closely at the impact of changes and guiding our clients specifically for their business situation over the next few days. The top 3 things you need to know today are: 

1) Corporation tax increase cancelled (for now).  
The planned introduction of a 25% corporation tax rate has been abolished. Therefore the rate of corporation tax will remain at 19%.

2) Top rate of income tax abolished 
The 45% income tax rate has been abolished and those paying that will fall within the 40% rate instead. Further, as a result of this, dividend tax rates will revert to 7.5% and 32.5% next year (from 8.75%, 33.75% and 39.35%).

3) Basic rate of income tax cut to 19%
From next April, the basic rate of income tax will be cut from 20% to 19%. This will mean 31 million people will be better off by an average of £170 per year, according to the Treasury. It is pleasing to see efforts being made to tackle the cost of living crisis.

Given the above points there is some scope to consider tax planning in advance of these changes. Please contact Murray to discuss further.

Download our free guide to the Mini Budget by clicking here – or on the image below.

Download our Mini-Budget 2022 Summary

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Graduate trainee position available at Alexander Knight & Co

Are you a graduate looking for an opportunity to start your career in accountancy?

  • Have you recently graduated or are graduating within the next 12 months – ready for a Summer 2024 start?
  • Would you like to join an accountancy practice that will support you to progress the first steps in your career?
  • Apply now to join our growing team based in HaleGreater Manchester.

Alexander Knight & Co is a modern, progressive and forward-thinking accountancy practice. We are committed to ongoing training and development in order to best serve the needs of our brilliant team and incredible, loyal clients, with a reputation for delivering high quality work through a friendly proactive style of accountancy.

Our client base is large and varied across a number of sectors both locally and nationally and we are active members of a renowned global accountancy network. We promote a positive and professional culture within our company and offer a supportive and flexible approach to working which is appreciated by both our staff and clients.

Candidate Requirements

Polite & professional manner.
Smart appearance.
Bright & articulate – able to engage with colleagues & clients appropriately, with ease & confidence.
Enthusiastic, self-motivated & keen to learn & progress within a professional environment.
Punctual, reliable, responsible, conscientious & trustworthy.

High level of numeracy & literacy essential.
Excellent organisational skills & consistent, accurate & analytical working methods.
Effective time management, strong communication skills & a high level of attention to detail.
Able to work independently & as part of a team.

5 (preferably 7) good GCSEs (grades A*-C/9-6) to include Maths & English ideally at the highest levels (A/A*/8/9)
2 A-levels (or equivalent)
Degree (2:1 or above)

Prospects and Benefits

  • Real potential for fast- track career progression.
  • Full support for completing studies and achieving career ambitions through staff training – on the job and external course provision.
  • Competitive salary
  • Agile, flexible approach to working, with opportunities for a hybrid basis i.e. a mix of remote and on site.
  • Modern, vibrant working environment, centrally located and within walking distance of both a village and a town.
  • Parking, excellent transport links.

Disclaimer 

Alexander Knight & Co is an equal opportunities employer and no terminology in this advert is intended to discriminate on the grounds of a person’s gender, marital status, race, religion, colour, age, disability or sexual orientation.

All candidates will only be assessed in accordance with their merits, qualifications and abilities to perform the role expected. Only successful applicants will be invited to the next stage consisting of an interview and assessment. We look forward to receiving your application via email to alison@alexanderknightaccountants.co.uk. You can read more about our practice here.

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Julie & Jacob join Alexander Knight & Co

We are thrilled to confirm the expansion of our team with the arrival of Julie Gee and Jacob Dally at our office in Hale.

Julie is an experienced payroll professional and will handle all payroll related processes for our clients.  She will also support clients to onboard new employees with payroll, HMRC compliance and employee benefits.

Jacob has joined us as an Assistant Accountant and will supports our senior colleagues to deliver accountancy services to our client base of entrepreneurs. He will also assist with preparing returns, client queries and client services.

We are delighted to welcome Julie and Jacob to our team!