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Autumn Statement 2022 Summary

Posted 17/11/2022

The Chancellor has delivered the Autumn Statement.

The main announcements:

  • From April 2023 the rate at which people pay the additional rate of income tax, charged at 45%, will change from £150k to those earning over £125,140.
  • Personal tax thresholds will be maintained at current levels for a further 2 years, until April 2028
  • The tax-free dividend allowance will be reduced to £1,000 in 2023-24, and then to £500 in 2024-25.
  • Tax free allowance for capital gains will reduce in 2023–24 from £12,300 to £6,000 and again to £3,000 in 2024-25.  
  • From 2025, vehicle excise duty will be introduced for Electric Vehicles
  • Stamp Duty cuts announced in the Growth Plan will now be time-limited, ending on 31 March 2025

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