ARTICLE · 28 SEPTEMBER 2022

Growth Plan 2022 Or "Mini Budget" – Tax Measures

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The Chancellor of the Exchequer delivered the ‘Growth Plan 2022' on 23 September 2022

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The Chancellor of the Exchequer delivered the 'Growth Plan 2022' on 23 September 2022.

The wider plan outlines the Government's policies to reduce inflation and support the growth of the UK economy. Central to the Growth Plan are a wide range of tax cuts for people and businesses which are intended to make the UK a more attractive place to invest, live and work.

We present here our full Growth Plan analysis in terms of tax.

Business and Corporate Taxes

The planned increase to the main rate of Corporation tax has been scrapped.

Under the previous Government's plans, the rate of Corporation Tax was to increase from 19% to 25% from April 2023 for company profits in excess of £250,000.

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