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Autumn Statement Summary 2023
On Wednesday 22 November 2023, Chancellor Jeremy Hunt announced the Autumn Statement.
To help digest the Autumn Statement 2023, we’ve highlighted some key areas below. To read our full summary, complete the form at the bottom of this page to download your copy.
Key points for the Autumn Statement 2023:
- Cuts to employee NICs take effect from 6 January 2024 and self-employed NICs from 6 April 2024
- 100% first year allowances(‘full expensing’) for companies made ‘permanent’ (originally due to expire 31 March 2026)
- Extension of the ‘cash basis’ of computing taxable profits for unincorporated businesses
- Reforms to tax reliefs for R&D and creative industries
- Affirmation of support for the state pension ‘triple lock’ with an 8.5% increase from April 2024, based on average earnings
- No changes announced to Income Tax, Inheritance Tax or Stamp Duty Land Tax – all remain fixed at levels previously announced
- Simplifications announced to the Making Tax Digital regime to be introduced for income tax self- assessment in April 2026
Please complete the form below to download a full copy of our PDF Autumn Statement Summary 2023.
Autumn Statement Summary 2023
If you have any questions relating to any of the areas within the Spring Budget, please contact us on the details below.
(E) enquiries@advaloremgroup.uk (T) 01908 219100 (W) advaloremgroup.uk