[nomadking]

The problem is you really need to limit inflation before it occurs. Otherwise inflationary wage rises follow.
Tax cuts to individuals may make them feel better, but they will still see the inflation rate when it comes to wage demands.
Tax cuts to businesses may have some effect, but not much. Non-UK businesses that supply to the UK, wouldn't be affected at all. Any tax is based upon profits, not on the costs they incur, which is what fuels inflation.
Whatever tax cuts are introduced, will need to be reversed at some point to fund the increased spending and borrowing.

It may not be popular, but the only solution might be limiting wage demands, until the current price increases work their way out of the inflation figures(after a year). Hopefully no new increases occur in that time.
The Unions were initially ok with that in the late 1970s, with a voluntary incomes policy. It worked until, the Unions insisted on playing "catch up". Eg Engineering Unions insisting on restoring the "differential", ie the wage difference between them and lower grades.