Breaking News:
Autumn Budget
2022

How does it impact me?

 

Capital gains tax relief allowance halved

 

From 2023, the Annual Exempt Amount for capital gains tax will be cut from £12,300 to £6,000, and then cut again to £3,000 from April 2024.
 

Stamp duty cut to remain - but only until 2025

 

The Chancellor shared that “the OBR expects housing activity to slow over the next two years, so the stamp duty cuts announced in the mini-budget will remain in place but only until March 31 2025.”

This means that the threshold of the price of a property before stamp duty is paid will stay at £250,000, up from the previous threshold of £125,000 - but now for a time limited period.

Dividend allowance will be cut from 2023

The dividend allowance will be cut from £2,000 to £1,000 in 2023, and then drop further to £500 in April 2024.

This will affect any landlords using limited company structures - a growing band of landlords - as they pay themselves and other shareholders dividends from their rental profits.
 

Threshold for top rate of income tax cut

More high earning agents and landlords will start paying the 45% top rate of income tax, as the threshold will be brought down from £150,000 to £125,140.

 

This means that "those earning £150,000 or more will pay just over £1,200 more a year," says Hunt.

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