Stay informed and in control
After every budget update, there is seemingly an endless list of things you have to remember. We’ve created one easy place to get all your relevant updates without trawling the web to find them yourself.
Autumn Statement – Basic-rate income tax remains at 20% “indefinitely”.
Additional-rate income tax – One of the biggest announcements made by the Chancellor was the lowering of the additional-rate tax threshold from £150,000 a year to £125,140 as of 6 April 2023.
The personal allowance threshold will remain frozen for a further two years, continuing until 2028, along with the higher-rate threshold and the National Insurance contributions (NICs) thresholds.
National insurance – In July 2022, NICs thresholds were increased to be brought in line with the income tax personal allowance, and fixed until April 2026.
Capital Gains Tax cut to the annual exempt amount, over the next two years.
The inheritance tax nil-rate is currently set at £325,000 until April 2026 and will remain at this rate for a further two years until April 2028.
The dividend allowance will be slashed from £2,000 to £1,000 from April 2023 and then again to £500 the following year.
the Chancellor confirmed that pensions – like benefits – would rise in line with September’s inflation rate of 10.1%.
Electric vehicles will no longer be exempt from vehicle excise duty from April 2025.