Company Tax U-turns
So, that partnership went as well as predicted. As well as sacking Kwarteng, Truss also made another U-turn on the mini (non) budget announcements.
In recent weeks we heard that the removal of the 45% tax band for the wealthiest individuals was being reversed, so there will continue to be the additional level of tax (45% for earnings over £150,000 and 39.35% for dividends over that figure (2022/23))