By the time you’re reading this, the new tax year will have already started and so we have put together this guide to review the personal tax changes for 2022/23.
Some of the changes have been public knowledge for months now and some of the rises have been anxiously awaited as the country continues to face a cost-of-living squeeze.
But the Government is intent on decreasing the national deficit and inflation after over £400 billion of quantitative easing by the Bank of England and global supply chain issues.
With these changes adding to the cost of living for many families, it’s more important than ever to know what changes have been made so you can prepare.
Here are the key personal taxes and tax changes you need to know in 2022/23.
The views expressed in this article are the personal views of the Author and other professionals may express different views. They may not be the views of Lambert Chapman LLP. The material in the article cannot and should not be considered as exhaustive. Professional advice should be sought in connection with any of the issues contained in the article and the implementation of any actions.