The Autumn Statement was delivered by The Chancellor, Jeremy Hunt on 17th November.
The key takeaway points were:
Main income tax allowances and thresholds, national insurance thresholds plus inheritance tax nil rate bands will stay at current levels until April 2028
The energy price guarantee will be adjusted from April 2023, meaning that a typical household will pay £3,000 a year
The 45% additional rate of income tax threshold will reduce from £150,000 to £125,140 from April 2023
State pension, pension credit, universal credit and the benefit cap, along with other credits will increase by 10.1% in line with inflation to September 2022
Dividend allowance will reduce from £2,000 to £1,000 from April 2023 and will then be halved again to £500 from April 2024
Capital gains tax annual exempt amount will be cut from £12,300 to £6,000 for 2023/24 and will be halved to £3,000 from April 2024
Windfall profits of oil and gas companies will be subject to tax increases
Business rates bills in England will be updated from April 2023 to reflect April 2021 property values and there will be a £13.6 billion package of targeted support for businesses over the next five years
The Autumn Statement can be reviewed here: AUTUMN STATEMENT 2022 (publishing.service.gov.uk)
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