Autumn Statement 22: Freeze on income tax thresholds extended

Additional rate reduced from £150,000 to £125,140

Jeremy Hunt has announced an income tax threshold freeze in his Autumn Statement today (17 November).

The chancellor said the threshold at which the top rate of income tax is paid would be reduced from £150,000 to £125,140. Personal allowance higher rate 2021/22 threshold levels will be maintained until 2026. The move will see some 250,000 Britons pulled into the top bracket of income tax. Autumn Statement 22: Markets remain calm following chancellor's speech In a bid to tackle the cost-of-living-crisis and to rebuild the economy, Hunt said he was prepared to make difficult decisions on tax and spending. The fourth chancellor in four months replaced Kwasi Kwarteng last month ...