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We are a little late off the press today so that we can include a summary of the Chancellor's Autumn Statement 2022. We also have summaries of other tax news and announcements for you.
Hello
We are a little late off the press today so that we can include a summary of the Chancellor's Autumn Statement 2022. We also have summaries of other tax news and announcements for you.
The Chancellor, Jeremy Hunt makes his 2022 Autumn Statement, this is the third fiscal event or budget, in the UK's parliament in as many months. Our live highlights of the speech as below.
Follow this link for: our Autumn Statement: At a glance summary
With inflation running at over 10% tax revenue is increased freezing most tax thresholds with the exception of higher rate taxpayers who see the higher rate threshold drop down to £125,140. There are reductions in allowances for dividend tax and CGT too.
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This time we are looking at UK landlords and the tax issues for different types of taxpayers who want to claim relief for accommodation costs. We have updates on rises in tax interest rates and details of HMRC's new range of tax disclosure campaigns.
On 22 September 2022, the government announced a reversal of the 6 April 2022 1.25% increase in National Insurance rates, with effect from 6 November 2022, or as soon as payroll systems can be changed, if later.
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With news that HMRC is launching a campaign targeting non-compliance by offshore companies who own UK property, we are focusing on the tax compliance issues for offshore property owners, directors and landlords this week.
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The new Chancellor of the Exchequer, Jeremy Hunt, has decided to put back the third 'fiscal event' of this autumn to 17th November, transforming it into the annual occasion that we had all been expecting, an Autumn Statement accompanied by a report from the Office of Budget Responsibility (OBR).
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