• Autumn Statement 2013 05 December 2013 | View comments

  • Autumn Statement 2013

    George Osborne delivered his Autumn Statement (mini budget) on 5 December 2013. Here are the losers and winners:

    Losers

    Overseas property buyers

    From April 2015, overseas buyers will have to pay Capital Gains Tax on the sale of a property which is not their main home.

    Pensioners

    State pension Age to rise to 68 in the mid 2030s and 69 in the mid 2040s. So prepare for those achy breaky bones.

    Younsgters

    Youths aged between 18 and 21 with no basic Maths and English have to undergo training if looking for employment. Otherwise they lose their benefits.

    Tax avoiders

    There wil be crack down of tax avoiders who cover up employment as self employment.

    Winners

    Kids in Reception, Year 1 and Year 2

    Free school meals should enable better concentration and education.

    Married couples

    Unused personal allowance (the amount you earn before paying income tax) used to be lost. Married couples will be able to transfer £ 1,000 of their personal allowance.

    Motorists

    Freeze on fuel duty! We welcome this type of freeze (rather than the curent freezing temperature)

    Householders

    Green levies reduction leading to savings of up to £ 50 on the average household energy bills.

    Developers

    Large housing developers will receive more finance leading to more houses on the horizon.

    Businesses

    Business rates increases to be restricted to 2%. Retail outlets of up to a value of £ 50,000 will get discount on their business rates for the next two years.

    Start-up loans extended and export finance has been doubled to enable businesses to reach emerging markets.

     

    So have you lost or gained from the Autumn Statement?

     

     

     

    « Back to archive
  • Leave your comment

  • Name:
     
    Email:
    Comment   
    captcha
    Enter the code shown above: