Summary of Autumn Statement 2022

CTT Accountancy are pleased to present a Summary of the Autumn Statement 2022 

This guide summarises the important announcements made by the Chancellor on the 17th November, which include:

  • The dividend allowance being reduced from £2k to £1k in 2023 and to £500 in 2024
  • The additional rate threshold falling to £125,140
  • The Annual Exempt Amount for Capital Gains Tax being slashed
  • R&D deduction rates have been reduced from 130% to 86%, and the credit rate from 14.5% to 10%

Throughout the summary, they have also incorporated informative comments to help you understand the impact that the budget changes could have on you and your business if applicable. 

Feel free to get in touch with us to discuss any of the changes that may impact you.

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During our initial discussion Panthera (Paul) fully explained the Will making process. We were made aware that our assets could be exposed to various risks such as Care Costs. Panthera (Paul) advised on how we could protect these assets by setting up Family Trusts. Having decided to go down this route Panthera (Paul) provided all the legal documentation in a timely manner despite having to work within the constraints of Covid-19 restrictions.

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