New VAT penalty regime and other VAT news February 9, 2022 by Banner & Associates Mini Budget Introduction The Chancellor Kwasi Kwarteng presented his 'Mini Budget' on 23 September 2022. This has subsequently been amended by Jeremy Hunt, the new Chancellor. National Insurance contributions Changes to the Health and Social Care Levy. Income tax Commentary on basic and additional rates of income tax. Business Highlighting corporation tax, capital allowances, SEIS, and CSOP. Stamp Duty Land Tax Changes to the residential SDLT bands. Energy bills A summary of the plans for business and households. Other matters Highlighting IR35, VAT-free shopping and duties.