Among the tax measures announced in the 90-minute-plus Autumn Budget speech were:
- increasing employer’s national insurance by 1.2 percentage points to 15% from April 2025
- reducing the secondary threshold on each employee’s salary from £9,100 a year to £5,000
- increasing the employment allowance from £5,000 to £10,500
- further investment and modernisation for HMRC
- freeze fuel duty at 5p for another year
- increasing the lower rate of CGT from 10% to 18% and the higher rate from 20% to 24%
- business asset disposal relief will remain at 10% this year, before rising to 14% in April 2025, and to 18% from 2026/27
- confirmed VAT on school fees
- no extension to the personal tax threshold freeze
- an increase to national living wage from £11.44 to £12.21 an hour from April 2025
- a confirmation that the VAT on private-school fees was going ahead
- increasing the energy profits levy on oil and gas companies to 38%
- increasing alcohol duty rates on non-draft products in line with RPI from February
- removing the “outdated concept” of domicile from the tax system from April 2025
- increasing the rate of air passenger duty by a further 50%
- increasing capital gains rates on carried interest to 32% from April 2025
- increasing the stamp duty land tax surcharge for second homes to 5%.
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