New UK Chancellor Kwasi Kwarteng to deliver mini-budget next week

The UK Chancellor, Kwasi Kwarteng, will outline details of help for households and businesses amid the soaring cost of living in a much-anticipated mini-budget to be delivered next Friday.

Prime Minister Liz Truss promised a "fiscal event" as part of her plans to improve the economy and tackle inflation, and Mr Kwarteng will reveal these proposals to the public on September 23, reports say.

To allow him to set out his mini-budget, MPs are expected to sit in the House of Commons on Thursday with parliamentarians being asked to sit a day longer before going into their conference break.

According to a parliamentary business paper, it appears that MPs will also consider a motion proposing that the Commons returns from the recess early, on October 11.

The reports end days of speculation about when the fiscal event could take place and whether, given the scale of the crisis in the cost of living predicted for this winter, MPs should return early.

The timing for the fiscal event is highly constrained, with Parliament suspended while the country is in mourning after the death of Queen Elizabeth II, and Ms Truss is expected to fly to New York for the UN General Assembly after the monarch’s funeral on Monday.

MPs had been due to break for conference season on September 22.

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The proposed change to recess dates would see legislators return after the Scottish National Party annual conference in October.

It is expected that on Wednesday, those MPs who wish to do so will take a new oath or affirmation to King Charles III.

A separate announcement on an energy package is also expected next week, possibly Wednesday or Thursday.

Ms Truss promised the fiscal event during the Tory leadership campaign, as concerns grew over rising energy bills and the expectation of a difficult winter for households.

Her bid to become prime minister won over grassroots members with promises of tax cuts and a pledge to put a stop to the planned rise in corporation tax.

The mini-budget follows an unprecedented, multibillion-pound package to tackle high energy bills and ease the cost of-living crisis, with a focus on capping prices and boosting domestic supplies.

Under the “energy price guarantee”, bills for the average household will go no higher than £2,500 ($2,868) at any point over the next two years.

It will save a typical home about £1,000 from October 1, when the current consumer price cap had been set to soar, official estimates show.

The news of the multibillion-pound package was immediately overshadowed by the death of the queen, leaving many outstanding questions about how it will be funded and what other measures might accompany it.

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Some charities have also called on the government to offer more support to vulnerable households, many of whom are already struggling with the price of bills.

It is expected that alongside measures to tackle the cost of living and boost growth, Mr Kwarteng will explain how the enormous energy package will be paid for.

Business leaders have expressed concern in recent days about the lack of clarity over the support for companies, which are also struggling with rising bills.

Downing Street has promised that more details about the support will come next week alongside a pledge to backdate energy costs for businesses if there is a delay in introducing the complex new scheme.

Sir Lindsay Hoyle, Speaker of the House of Commons, earlier told Times Radio that it was his “expectation” and “hope” that the conference break would be trimmed back.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks.

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.

8. Pillar 2 implementation

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.

A semen analysis of the father showed abnormal sperm so the couple required IVF.

Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.

A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.

On day three of the process, 14 embryos were biopsied for gender selection.

The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.

Day five of the treatment saw two male embryos transferred to the patient.

The woman recorded a positive pregnancy test two weeks later.

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Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”