{"id":2147,"date":"2022-11-18T14:50:15","date_gmt":"2022-11-18T14:50:15","guid":{"rendered":"https:\/\/aelmarkhams.co.uk\/?p=2147"},"modified":"2022-11-18T14:55:34","modified_gmt":"2022-11-18T14:55:34","slug":"autumn2022statement","status":"publish","type":"post","link":"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/","title":{"rendered":"Autumn 2022 Statement \u2013 What You Need To Know"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Chancellor Jeremy Hunt presented his 2022 autumn statement on Thursday 17th November 2022.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">T<\/span>he key announcements are summarised below;<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Personal\/Employee<\/strong><\/span><\/p>\n<ul>\n<li>State pension payments and means-tested and disability benefits to increase by 10.1%, in line with inflation.<\/li>\n<li>Top 45% additional rate of income tax will be paid on earnings over \u00a3125,140, instead of \u00a3150,000.<\/li>\n<li>Income tax personal allowance and higher rate thresholds frozen for further two years, until April 2028.<\/li>\n<li>Main National Insurance and inheritance tax thresholds also frozen for further two years, until April 2028.<\/li>\n<li>Inheritance tax (IHT) threshold has been frozen. The &#8216;nil-rate band&#8217; \u2013 the amount that can be passed on before IHT is due at a rate of 40% \u2013 will stay at its current rate of \u00a3325,000 until April 2028.<\/li>\n<li>The dividend allowance will be cut from \u00a32,000 to \u00a31,000 next year, and then to \u00a3500 in April 2024.<\/li>\n<li>Local councils in England will be able to hike council tax up to 5% a year without a local vote, instead of 3% currently.<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong>Employer\/Company<\/strong><\/span><\/p>\n<ul>\n<li>Legally-enforceable minimum wage for people aged over 23 to increase from \u00a39.50 to \u00a310.42 an hour from April 2023.<\/li>\n<li><span class=\"sbui-1cktdxe underline-animation\">Capital gains tax (CGT) allowance<\/span> will be cut to \u00a36,000 in 2023-24, down from \u00a312,300. The allowance will be cut again in 2024-25 to \u00a33,000.<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong>General<\/strong><\/span><\/p>\n<ul role=\"list\">\n<li>Electric cars, vans and motorcycles to pay road taxes from April 2025.<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong>Energy<\/strong><\/span><\/p>\n<ul role=\"list\">\n<li>Household energy price cap extended for one year beyond April 2023, with typical bills capped at \u00a33,000 a year instead of \u00a32,500.<\/li>\n<li>Households on means-tested benefits will get \u00a3900 support payments in 2023.<\/li>\n<li>\u00a3300 payments to pensioner households, and \u00a3150 for individuals on disability benefit.<\/li>\n<li>Windfall tax on profits of oil and gas firms increased from 25% to 35% and extended until March 2028.<\/li>\n<li>New 45% tax on companies that generate electricity, to apply from January 2023.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/aelmarkhams.co.uk\/wp-content\/uploads\/2022\/11\/A-E-L-Markhams-26264-A5-PDF-Bespoke-Design.pdf\">For a more in-depth summary on the statement, please click here<\/a><\/p>\n<p>For HMRCs Statement: <a href=\"https:\/\/assets.publishing.service.gov.uk\/government\/uploads\/system\/uploads\/attachment_data\/file\/1118417\/CCS1022065440-001_SECURE_HMT_Autumn_Statement_November_2022_Web_accessible__1_.pdf\">click here<\/a><\/p>\n<p>&nbsp;<\/p>\n<div id='contact-form-2147'>\n<form action='https:\/\/aelmarkhams.co.uk\/autumn2022statement\/#contact-form-2147' method='post' class='contact-form commentsblock'>\n<script>\n\t\t\t( function () {\n\t\t\t\tconst contact_forms = document.getElementsByClassName('contact-form');\n\n\t\t\t\tfor ( const form of contact_forms ) {\n\t\t\t\t\tform.onsubmit = function() {\n\t\t\t\t\t\tconst buttons = form.getElementsByTagName('button');\n\n\t\t\t\t\t\tfor( const button of buttons ) {\n\t\t\t\t\t\t\tbutton.setAttribute('disabled', true);\n\t\t\t\t\t\t}\n\t\t\t\t\t}\n\t\t\t\t}\n\t\t\t} )();\n\t\t<\/script>\n<div class='grunion-field-wrap grunion-field-name-wrap'  >\n<label\n\t\t\t\tfor='g2147-name'\n\t\t\t\tclass='grunion-field-label name'\n\t\t\t\t>Name<span>(required)<\/span><\/label>\n<input\n\t\t\t\t\ttype='text'\n\t\t\t\t\tname='g2147-name'\n\t\t\t\t\tid='g2147-name'\n\t\t\t\t\tvalue=''\n\t\t\t\t\tclass='name' \n\t\t\t\t\trequired aria-required='true'\n\t\t\t\t\/>\n\t<\/div>\n\n<div class='grunion-field-wrap grunion-field-email-wrap'  >\n<label\n\t\t\t\tfor='g2147-email'\n\t\t\t\tclass='grunion-field-label email'\n\t\t\t\t>Email<span>(required)<\/span><\/label>\n<input\n\t\t\t\t\ttype='email'\n\t\t\t\t\tname='g2147-email'\n\t\t\t\t\tid='g2147-email'\n\t\t\t\t\tvalue=''\n\t\t\t\t\tclass='email' \n\t\t\t\t\trequired aria-required='true'\n\t\t\t\t\/>\n\t<\/div>\n\n<div class='grunion-field-wrap grunion-field-url-wrap'  >\n<label\n\t\t\t\tfor='g2147-website'\n\t\t\t\tclass='grunion-field-label url'\n\t\t\t\t>Website<\/label>\n<input\n\t\t\t\t\ttype='url'\n\t\t\t\t\tname='g2147-website'\n\t\t\t\t\tid='g2147-website'\n\t\t\t\t\tvalue=''\n\t\t\t\t\tclass='url' \n\t\t\t\t\t\n\t\t\t\t\/>\n\t<\/div>\n\n<div class='grunion-field-wrap grunion-field-textarea-wrap'  >\n<label\n\t\t\t\tfor='contact-form-comment-g2147-message'\n\t\t\t\tclass='grunion-field-label textarea'\n\t\t\t\t>Message<\/label>\n<textarea\n\t\t                name='g2147-message'\n\t\t                id='contact-form-comment-g2147-message'\n\t\t                rows='20' class='textarea'  ><\/textarea>\n\t<\/div>\n\t<p class='contact-submit'>\n\t\t<button type='submit' class='pushbutton-wide'>Submit<\/button>\t\t<input type='hidden' name='contact-form-id' value='2147' \/>\n\t\t<input type='hidden' name='action' value='grunion-contact-form' \/>\n\t\t<input type='hidden' name='contact-form-hash' value='8ae3f1053a1f25b64ddb50aef636572e70864e0b' \/>\n\t<\/p>\n<\/form>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Chancellor Jeremy Hunt presented his 2022 autumn statement on Thursday 17th November 2022.\u00a0 The key announcements are summarised below; Personal\/Employee State pension payments and means-tested and disability benefits to increase by 10.1%, in line with inflation. Top 45% additional rate of income tax will be paid on earnings over \u00a3125,140, instead of \u00a3150,000. Income tax personal allowance and higher rate &#8230; <\/p>\n<div><a href=\"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/\" class=\"more-link\">Read More<\/a><\/div>\n","protected":false},"author":7,"featured_media":2155,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[5],"tags":[9],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Autumn 2022 Statement \u2013 What You Need To Know - AEL Markhams<\/title>\n<meta name=\"description\" content=\"Chancellor Jeremy Hunt presented his 2022 autumn statement on Thursday 17th November 2022.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Autumn 2022 Statement \u2013 What You Need To Know - AEL Markhams\" \/>\n<meta property=\"og:description\" content=\"Chancellor Jeremy Hunt presented his 2022 autumn statement on Thursday 17th November 2022.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/\" \/>\n<meta property=\"og:site_name\" content=\"AEL Markhams\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-18T14:50:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-18T14:55:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aelmarkhams.co.uk\/wp-content\/uploads\/2022\/11\/Picture1-1024x495.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"495\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"ravi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ravi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/\",\"url\":\"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/\",\"name\":\"Autumn 2022 Statement \u2013 What You Need To Know - AEL Markhams\",\"isPartOf\":{\"@id\":\"https:\/\/aelmarkhams.co.uk\/#website\"},\"datePublished\":\"2022-11-18T14:50:15+00:00\",\"dateModified\":\"2022-11-18T14:55:34+00:00\",\"author\":{\"@id\":\"https:\/\/aelmarkhams.co.uk\/#\/schema\/person\/62b792ae56f5e0dac348b8fb05651c19\"},\"description\":\"Chancellor Jeremy Hunt presented his 2022 autumn statement on Thursday 17th November 2022.\",\"breadcrumb\":{\"@id\":\"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/aelmarkhams.co.uk\/autumn2022statement\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/aelmarkhams.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Autumn 2022 Statement \u2013 What You Need To Know\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/aelmarkhams.co.uk\/#website\",\"url\":\"https:\/\/aelmarkhams.co.uk\/\",\"name\":\"AEL Markhams\",\"description\":\"Chartered Accountants &amp; 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How much do I\u2026","rel":"","context":"In &quot;AEL News&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/aelmarkhams.co.uk\/wp-content\/uploads\/2024\/02\/pexels-mikhail-nilov-6963921-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":1434,"url":"https:\/\/aelmarkhams.co.uk\/budget2020\/","url_meta":{"origin":2147,"position":4},"title":"2020 Budget &#8211; What&#8217;s in store?","date":"March 17, 2020","format":false,"excerpt":"Chancellor Rishi Sunak presented his 2020 Budget on Wednesday 11th March. 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