- Chancellor Rishi Sunak decided to spend rather than save in the Autumn Budget with an extra £150 billion for public services.
- Businesses saw the welcome extension of the increased annual investment allowance of £1 million to 2023, alongside changes to research and development tax relief.
- The much-anticipated rise in Capital Gains Tax did not materialise, with no further changes to Income Tax beyond the previously announced 1.25% increase to dividend tax rates and NIC.
- The Office for Budgetary Responsibility upgraded the UK’s economic growth forecast to 6.5% from 4%, but higher inflation may be the sting in the tail.
This article was previously published on Tilney prior to the launch of Evelyn Partners.