JEREMY HUNT’S AUTUMN STATEMENT – KEY POINTS FOR LANDLORDS
Income Tax
Top rate (45%) now to come into effect for those earning over £125,140 (was £150,000)
Other rates frozen
All above to 2028
Capital Gains Tax
Annual threshold to be cut from £12,300
- to £6,000 next year
- to £3,000 from April 2024
Stamp Duty
Cut in Stamp Duty previously announced to remain until 2025
Benefits
To rise in line with Sepember rate of inflation (10.1%)
Social Housing rents capped at 7%
Pensions
To rise in line with Sepember rate of inflation (10.1%)
Divident Allowance
To be cut
- to £2,000 to £1,000 in 2023
- to £500 in April 2024.
Inheritance Tax
Threshold to be frozen to 2028
National Living Wage
Rate from April 2023
National Living Wage £10.42
21-22 Year Old Rate £10.18
18-20 Year Old Rate £7.49
16-17 Year Old Rate £5.28
Apprentice Rate £5.28
Accommodation Offset £9.10
National Insurance
Threshold to be frozen to 2028
Energy Price Guarantee
To remain for twelve months albeit at a reduced rate
Alternative Fuel Payment
£200 for households that use alternative fuels, such as heating oil, liquefied petroleum gas (LPG), coal or biomass, to heat their homes.
This support will be delivered as soon as possible this winter
Cost of Living Paymens
- £900 to households on means tested benefits
- £300 for pensioner households
- £150 for those on disability benefits
- £1 billion of funding for the household support fund, extending the support for a further 12 months