From 23rd September 2022 to 31 March 2025 purchases of residential property will incur less or no SDLT.
A temporary increase has been introduced with the nil-rate tax threshold rising from £125,000 to £250,000.
The nil-rate threshold for First Time Buyers’ Relief is also temporarily increased from £300,000 to £425,000 and the maximum property value that is eligible for First Time Buyers’ Relief is increased to £625,000.
Reduction to the tax free Dividend Allowance
The change will reduce the amount charged at the nil rate from £2,000 to £1,000 from 6 April 2023 and then to £500 from 6 April 2024.
Dividends are currently taxed at 8.75% (basic rate), 33.75% (higher rate), and 39.35% (additional rate).
The current AEA per year is £12,300, You only pay Capital Gains Tax on your gains above the annual exempt amount.
For the tax year 2023 to 2024 the AEA will be reduced to £6,000 and then for the tax year 2024 to 2025 reduced further and be permanently fixed at £3,000.
This could cost up to £2,604 in additional tax per individual when selling asset in April 2025 versus selling in March 2023.