News

UK Chancellor Jeremy Hunt unveiled his Autumn Statement in the House of Commons.

November 17, 2022

Today the 17th of November 2022, the UK Chancellor Jeremy Hunt unveiled his Autumn Statement in the House of Commons.

The Chancellor has outlined plans designed to tackle rising prices and restore the UK's credibility with international markets.

He highlighted that the Government‘s priorities are stability, growth, and public services.

Please find below a summary of the main tax measures that have been announced:

  • The income threshold at which the 45% rate of tax becomes payable will be reduced from £150,000 to £125,140 from April 2023;
  • Income tax personal allowance, higher rate threshold, main national insurance thresholds and the inheritance tax thresholds will remain at current levels until April 2028;
  • The dividend allowance will be cut from £2,000 to £1,000 from 2023 and to £500 from April 2024;
  • The Annual Exempt Amount for capital gains tax will be cut from £12,300 to £6,000 in 2023 and to £3,000 from April 2024;
  • The new Employment Allowance will remain at the higher level of £5,000;
  • The Energy Profits Levy will be increased from 25% to 35% from January 1st 2023 until March 2028;
  • The threshold at which stamp duty land tax begins to apply in England and Northern Ireland will remain at £250,000 (£425,000 for first time buyers) until 31st March 2025;

If you want to discuss any of these measures in detail please get in touch with a member of our team.

Because life is complicated enough. 

Our Offices

London

info@laggan-uk.com
+44 (0)20 7631 2061
Laggan & Associates Ltd
5th floor, North Side
7/10 Chandos Street
Cavendish Square
London W1G 9DQ

Republic of Ireland

office@laggan-ie.com
+353-1-2100440
21 Priory Office Park
Stillorgan
CO Dublin – Republic of Ireland

Get in touch

Email: info@laggan-uk.com

Phone: 0044 (0)20 7631 2061

Address: 5th floor, North Side 7/10 Chandos Street Cavendish Square London W1G 9DQ
Copyright 2021 Designed by LTDO - Laggan & Associates Limited - Terms & Conditions - Privacy Statement