Autumn Statement Summary – November 2022

November 21, 2022

On Thursday 17th November, the Chancellor, Jeremy Hunt, unveiled his Autumn Statement to the House of Commons. As predicted, it included a number of tax rises and spending cuts, as well as increases to the minimum wage, benefits and pensions.

The main measures included:

  • Increase to the minimum wage
  • Increase to state pension payments, means-tested benefits and disability benefits.
  • Top 45% additional rate of income tax band lowered
  • Income tax personal allowance and higher rate thresholds frozen
  • Main National Insurance and inheritance tax thresholds frozen
  • Tax-free allowances for dividend and capital gains tax to be cut

You can read a summary of all the measures in the Autumn Statement in our Autumn Statement Summary

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Gary Olding

Gary is the National Head of Tax and oversees our Tax Compliance and Medical Tax Teams. When not dealing with clients he is supervising operations, troubleshooting, and optimising workflows.

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