Overview of Autumn Statement 2022
Just 34 days into his role as Chancellor of the Exchequer, Jeremy Hunt delivered his Autumn Statement on 17 November.
Business rates
Properties subject to business rates will be revalued in 2023.
Investment incentives
Investment incentives to promote the establishment of new businesses and to encourage existing businesses to expand will go ahead.
Payroll matters
Payroll matters. Find out here the changes to rates and thresholds that impact on payroll from 2022 – 2023.
Tax on dwellings held by companies
Be aware that the ATED charge for 2023-24 to 2027-28 must be based on the property’s open market value on 1 April 2022 and it is up to the property owner to provide that valuation.
Corporation tax up
When the current Prime Minister was Chancellor, he announced an increase in the main rate of corporation tax to 25% to apply to profits above £250,000 from 1 April 2023. Under the previous administration this decision was reversed but the 25% rate will now apply next year.