Autumn Statement 2022 - A Plan for Stability?
Thursday 17th November 2022 saw the 'new' chancellor, Jeremy Hunt, deliver the Autumn Statement nearly 8 weeks since the now infamous 'mini Budget' delivered by Kwasi Kwarteng, the then Chancellor of the Exchequer on 23 September 2022.
Some Key Points:
- Tax allowances have been frozen until 2028
- Top rate tax threshold lowered*
- Dividend allowance cut over two years
- The National Insurance Contributions threshold is frozen
- Employment allowance for companies is staying at £5,000
- VAT threshold will continue at £85,000 up to 2026
*This does not, of course, apply up here in Scotland and we shall have to wait until next month to hear what happens in the Scottish parliament, exciting times!
The following link to gov.uk website gives more detail:
Whilst we have no reason to believe the above is not accurate it is for general guidance only. Buick & Co Chartered Tax Advisers and Tax Consultants take no responsibility whatsoever for this blog, its reliability or any actions you take having read it.