Finance Act 2022

Overview

The Finance Act 2022 grants certain duties and alters others to amend the current law relating to the national debt and the public revenue. It also makes further provision in connection with finances, and has 6 main parts that cover:

• Income tax, corporation tax and capital gains tax;
• Residential property developer tax;
• Economic crime (anti-money laundering) levy;
• Public interest business protection tax; and
• other taxes and miscellaneous taxes.

Please note that the following provisions were tied to the 2022-23 tax year:

• Section 1: Income tax charge for tax year 2022-23.
• Section 2: Main rates of income tax for tax year 2022-23.
• Section 3: Default and savings rates for tax year 2022-23.
• Section 5: Starting rate limit for savings for tax year 2022-23