When Chancellor Kwasi Kwarteng announced his changes to the basic rate of Income Tax you may have wondered what it meant for you.
From 6 April next year, the basic rate of Income Tax will be reduced by one percentage point – from 20 per cent to 19 per cent.
This cut to Income Tax was first announced by former Chancellor Rishi Sunak but has now been brought forward a year in the new Government’s changes to taxation.
Link: Income Tax factsheet
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