Key changes affecting personal taxes, investments, pensions and property
, chancellor Jeremy Hunt has delivered a package of tax rises and spending cuts designed to repair Britain’s battered public finances — but it comes at a cost to the nation’s personal finances.
Rather than rise in line with inflation, the tax-free personal allowance will remain at £12,570 and the higher-rate threshold at £50,270 in England, Wales and Northern Ireland . The tax free dividend allowance will be halved from £2,000 to £1,000 from next April, and halved to just £500 from April 2024.
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