The Chancellor of the Exchequer, Jeremy Hunt, delivered the Autumn Statement to the U.K. Parliament on 17 November 2022.1
The key announcements that will impact globally-mobile employees are as follows:
- The threshold at which additional rate income tax becomes payable at a rate of 45% will be reduced from £150,000 to £125,140 from April 2023;
- The capital gains tax annual exempt amount will be reduced from £12,300 to £6,000 from April 2023, and then to £3,000 from April 2024;
- The dividend allowance will be cut from £2,000 to £1,000 from April 2023, and then cut again to £500 from April 2024.