Autumn Statement 22: Tax burden rises with hikes to dividend and CGT

The dividend allowance was introduced to help savers in 2017 and having initially been at £5,000, it has been frozen at £2,000 for the past five years, which covered the majority of savers' dividend income. The chancellor's move will mean more people end up paying tax on their dividends, said Quilter financial planning expert Shaun Moore said. "For a basic rate taxpayer, the reduction in the dividend allowance to £1,000 will mean they will end up paying £87.50 more in tax. Similarly, if you are a higher rate taxpayer this rises to £337.50 more in tax and £393.50 if you are an addition...