Key Points from todays Autumn Budget
– The national living wage will increase to £9.50 an hour next year, up from the current £8.91. An increase of 6.6%.
– The Universal Credit taper rate will be cut by 8% from no later than December 1, bringing it down from 63% to 55% – this will allow claimants to retain more of their payment.
– A planned rise in fuel duty will be cancelled as a result of the current 8 year high pump prices.
– Flights between airports in England, Scotland, Wales and Northern Ireland to benefit from a new lower rate of Air Passenger Duty from April 2023.
– 4% levy to be placed on property developers with profits over £25 million.
-A 1.25% increase in the rate of National Insurance for workers and pensioners from April 2022.
-A 1.25% increase on tax on dividend earnings over £2000 per year.