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UK Government updates income tax proposal from its mini-Budget

|Tax Alerts, Legislation & Policy, National/Federal Taxation|United Kingdom
United Kingdom

  • The United Kingdom (UK) Government presented its mini-Budget on 23 September 2022 as part of the Government’s Growth Plan.

  • The Growth Plan contained a proposal to abolish the 45% additional rate of income tax with effect from 6 April 2023.

  • On 3 October 2022, the UK Chancellor announced that the abolition of the 45% rate had become a “distraction” and would not be abolished.

On 23 September 2022, the UK Chancellor, Kwasi Kwarteng delivered his mini-Budget and the Government’s Growth Plan. The wide-r…

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