2022/23 has been the third of extraordinary tax years in the modern era. While 2020 and 2021 saw the heights of the pandemic, 2022 saw a surge in inflation mainly due to the continued supply chain issues after Covid, Russia’s war on Ukraine and rising energy prices.
Arranging your financial affairs as tax-efficiently as possible before the start of the new tax year on 6 April 2023 is therefore extremely important, especially when we consider the UK is expected to fall into a recession throughout 2023.
It doesn’t help that the past year has been mired with changes – and then U-turns – to the tax system, making the rules hard to keep track of. That’s what three Prime Ministers, four chancellors and three financial statements in one year will bring you.
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