The Prime Minister has announced rises to dividend and share tax and a rise in National Insurance from April 2022 to address the funding crisis in the health and social care system.

The Government is to give its Insolvency Service greater powers to tackle firms that try to ‘phoenix’ by setting up near identical new businesses to avoid liabilities and will also target directors who deliberately dissolve firms to avoid bills.

The government has launched a review of the taxation and regulation of UK funds.

The government plans to legislate for a major expansion of its Dormant Assets scheme to add selected insurance, investment and pension products.