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December 2022 eNEWS

Dear Duncan,

Welcome to our monthly newswire designed to keep you informed of the latest business and tax issues. Please contact us if you have any questions. Remember, we’re here to help.

Tax burden rises following Autumn Statement
The UK’s tax burden will rise after Chancellor Jeremy Hunt reduced the threshold on the top rate of tax and announced freezes on other taxes in the Autumn Statement.
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CBI praises Chancellor for ‘delivering stability’ in Autumn Statement
The Confederation of British Industry (CBI) praised Chancellor Jeremy Hunt for ‘delivering stability and protecting the most vulnerable’ in the Autumn Statement.
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IFS warns of fall in household incomes
The Institute for Fiscal Studies (IFS) has warned that household incomes will see their biggest drop in generations following the Autumn Statement.
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OECD warns UK on course for biggest economic downturn
The UK economy is to suffer the biggest hit of all the G7 nations next year, according to a report from the Organisation for Economic Cooperation and Development (OECD).
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Auto-enrolment has helped workers save £114 billion into pensions
Workers have saved more than £114 billion into their pension pots since pensions automatic enrolment was implemented ten years ago.
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UK businesses anticipate growth in exports
A significant number of UK businesses that trade internationally expect to see an increase in their exports over the coming year, according to an Institute of Directors (IoD) survey.
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Digital Services Tax has raised £358 million
The UK’s Digital Services Tax (DST) raised £358 million from large digital businesses in the 2020/21 tax year, according to data published by the National Audit Office (NAO).
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Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 December 2022.
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