The latest fiscal event - arguably the fifth of 2022 - completes the reversal of the tax cutting agenda set by the previous Chancellor.
The rates of tax are not changing - but thresholds are frozen or reduced quickly increasing liabilities at a time of double digit inflation.
There are no significant changes announced to ammend key tax reliefs.
The previously announced freeze on income tax and inheritance tax thresholds is extend for a furrther period until Aprl 2028
The 45% rate of tax will be retained and the threshoold reduced from £150,000 to £125,140
Dividend allowance to be cut to £1,000 from April 2023 and to £500 in 2024
Capital Gains Tax
The annual exemption will be reduced to £6,000 in April 2023 and then too £3,000 in 2024
The higher thresholds for Stamp Duty will be retained