What To Expect From This Week's Autumn Statement

Contributing sentiments towards policy:

59% : According to the UK government, tax relief is awarded automatically:· If an employer takes workplace pension contributions out of a worker's pay before deducting income tax· Where a worker's rate of income tax is 20%, a pension provider will claim tax relief and add it to the accruing pension pot ('relief at source').
55% : A major squeeze on government spending is expected, along with widespread tax hikes.
53% : "Those who have the option of contributing via salary sacrifice should consider it, as this system offers relief from National Insurance in addition to income tax."
50% : "At the moment, doing this protects their investments from the higher rate of tax, but a hike in CGT could reverse this benefit.
46% : Tinkering with the capital gains tax (CGT) threshold, currently £12,300, or aligning CGT rates to income tax would only penalise a minority of taxpayers.
43% : One announcement not to be affected by Mr Hunt's reversal included the decrease in the rate of National Insurance contributions (subsequently introduced on 6 November) and the cancellation of the Health and Social Care Levy from 6 April 2023.
43% : Commentators suggest that tax could be saved here without an immediate impact on the economy.
41% : This would mean more people are pushed into paying tax on the death of a family member.
37% : "Any further moves to raise taxes on dividends will be a blow to business owners, many of whom pay themselves partially or primarily through dividends rather than salaries, as well as retirees who rely on dividend income to supplement their pensions," says Mr Hollands.

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