United Kingdom Gazettes Finance Act 2022

The United Kingdom Official Gazette Feb. 24 published Law No. 3/2022, the Finance Act 2022. The law includes measures: 1) setting individual income tax rates for tax year 2022-23; 2) increasing the ordinary tax rate to 8.75 percent, the upper tax rate to 33.75 percent, and the additional tax rate to 39.35 percent for dividend income tax; 3) extending tax relief for museums, galleries, theaters, and orchestras; 4) implementing the new residential property developer tax of 4 percent for residential property developer profits, as specified; 5) introducing reforms to the tonnage tax; 6) exempting excise taxes on specific vehicles used ...