With winter truly underway and Christmas ramping up, the end of the year once again creates a space for taking stock and forward planning. While the Prime Minister has been at the COP28 conference working towards minimizing rising global temperatures, for many at home, keeping an eye on the season’s higher bills is a priority.
The Chancellor’s Autumn Statement last month was a calmer affair than last year’s, given against a more stable background. With the Prime Minister’s goal of bringing down the key inflation figure achieved, it garnered more coverage than usual. Jeremy Hunt hit the headlines with a surprise tax cut in the form of reduced national insurance rates from January for employees and next April for the self-employed. Businesses are also set to benefit from extended tax reliefs. At the same time, however, the Office for Budget Responsibility pointed out the tax burden overall amounts to the highest post-war tax take. The feature in this edition of our newsletter explores the give and take nature of the Autumn Statement outcomes.
Our other stories include:
- A guaranteed income for life attracts more interest
- Why wills matter – intestacy rules change delay
- Retirement planning – a new take on two important decisions