Electric vehicles will no longer be exempt from vehicle excise duty from April 2025.
Budgets & Chancellor’s Statements
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Autumn Statement 2022 – Stamp Duty
Stamp duty cuts remain
Autumn Statement 2022 – Business Changes
Corporation tax rises to 25% from 1 April 2023 and other business changes in the Autumn Statement.
Autumn Statement 2022 – Employment Allowance
The employment allowance will remain at its current level of £5,000, having increased to that amount in April 2022.
Autumn Statement 2022 – Business rates
Business rates – The Chancellor confirmed that a business rates revaluation will still take place in April 2023
Autumn Statement – Annual investment allowance
The annual investment allowance will be permanently set at £1m for businesses.
Autumn Statement 2022 – R&D
Changes to the rates of the two research & development (R&D) relief schemes were announced.
Autumn Statement 2022 – National living wage increase
From 1 April 2023, the national living wage will increase by 9.7%, to £10.42 an hour.
Autumn Statement 2022 – online sales tax
Following consultation, the Government has decided not to introduce a proposed online sales tax.