UK Government updates income tax proposal from its mini-Budget

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.