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Autumn Statement 2022 Summary
Taxation and wages
- UK minimum wage for people over 23 to increase from £9.50 to £10.42 an hour
- Top 45% additional rate of income tax will be paid on earnings over £125,140, instead of £150,000
- Income tax personal allowance and higher rate thresholds frozen for further two years, until April 2028
- Main National Insurance and inheritance tax thresholds also frozen for further two years, until April 2028
- Tax-free allowances for dividend reduced to £1,000 next year and £500 from April 2024. Capital gains tax reduced to £6,000 next year and £3,000 from April 2024
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