45% tax rate: Abolition abandoned

Less than 10 days after the government announced their ‘Growth Plan’ (otherwise known as the ‘mini-budget’), the chancellor has announced that the government will not proceed with the proposed plans to cut the 45p tax rate cut which was intended to come into effect from April 2023.

As the government seem to be acting at such high speed, we are being kept on tenterhooks, wondering what the government’s next announcement will be…

Disclaimer - All information in this post was correct at time of writing.