Matthew Radcliffe (Charles Russell Speechlys) explains why the not so ‘mini-Budget’ will draw close attention from private clients and intermediaries around the world.
Income tax
Perhaps the most eye-catching tax cut announced by the chancellor from a private client standpoint was the change to the additional rate of income tax currently 45% on income over £150 000. This will be scrapped completely from April 2023 leaving a single higher rate of income tax of 40% affecting around 660 000 individuals. To put that in context France Japan and Germany all have top rates of 45% whilst Italy has 43% and out of all G7 countries only the US and Canada will have lower...
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Matthew Radcliffe (Charles Russell Speechlys) explains why the not so ‘mini-Budget’ will draw close attention from private clients and intermediaries around the world.
Income tax
Perhaps the most eye-catching tax cut announced by the chancellor from a private client standpoint was the change to the additional rate of income tax currently 45% on income over £150 000. This will be scrapped completely from April 2023 leaving a single higher rate of income tax of 40% affecting around 660 000 individuals. To put that in context France Japan and Germany all have top rates of 45% whilst Italy has 43% and out of all G7 countries only the US and Canada will have lower...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
