Today the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Autumn Statement 2022 speech. The chancellor set out the government’s plan to put public spending on a sustainable footing and get debt falling, while protecting vital public services and prioritising the needs of the most vulnerable. Full details are set out in the Autumn Statement document on GOV.UK, alongside other relevant documentation from the Office for Budget Responsibility (OBR) and Treasury. A focused Autumn Finance Bill will be introduced next week to legislate for some of the measures announced today.
Key tax announcements today include threshold and allowances measures, energy levy changes, changes to R&D tax reliefs and Stamp Duty Land Tax (SDLT), as well as confirmation of the Corporation Tax (CT) rate increase and the OECD Pillar 2 measure. Autumn Statement 2022 also includes a small number of avoidance and evasion measures.
Threshold freezes and personal tax allowance measures