phone icon0113 243 5693



How The Autumn Budget Might Impact You


Tax Rates and Allowances

  • Everyone gets the benefit of an increased personal allowance. This means that no one pays tax until they earn over £11,850 per annum.
  • The savings income zero percent starting band stays at £5,000 per annum for non-taxpayers, £1,000 for basic rate taxpayers and £500 for higher rate taxpayers
  • The higher rate threshold for Income Tax is rising to £46,350 per annum or £43,500 if you are in Scotland.
  • The dividend allowance is being slashed from £5,000 to £2,000. So if you have investment income you will be more likely to suffer dividend tax.
  • The Capital Gains Tax annual exemption rises to £11,700 for individuals and £5,850 for trusts. You can make more profit before you are taxed.


  • Maximum Enterprise Investment Scheme limits are being doubled (to £2,000,000) if the money is being placed in “knowledge intensive” companies.
  • There’s no change in ISA thresholds (stays at £20,000 per person per year) but Junior ISAs go up to £4,260.

Stamp duty

In England and Wales first-time buyers will pay zero stamp duty on the first £300,000 of any home that costs up to £500,000. This means that:

  • on a home worth less than £300,000, a first-time buyer will pay no stamp duty;
  • if it is worth between £300,000 and £500,000 they’ll only pay the 5% stamp duty on the amount above £300,000;
  • but if it is worth more than £500,000 they’ll have to pay 2% on the £125,000 between £125,000 and £250,000 and the full 5% on the amount above £250,000.

The Treasury estimates the move will take 80% of first-time buyers out of paying stamp duty altogether.


If you buy a new diesel car from 1 April next year, you’ll pay up to £500 more road tax in your first year of owning the vehicle.

Murray McEwan


No comments so far!


Leave a Comment