Autumn Statement 2023 – Growth, growth, growth…

As ever, in the last couple of weeks there has been a huge amount of speculation about what may or may not be announced at the Autumn Statement 2023 – abolition of inheritance tax; increase in the inheritance nil rate band; a stamp duty land tax holiday; a cut in the rate of income tax… […]

Autumn Statement 2023 – Two become one… a single R&D scheme for all

These days, it doesn’t feel like a proper fiscal event without an announcement around R&D relief! Much of this is predicated on the benefit that the Government believes this relief brings to the growth of the economy, while balancing the complexity of having multiple schemes in place and an undercurrent of belief that the level […]

Autumn Statement 2023 – Stability for companies to incentivise investment

In addition to the proposed changes to R&D and speculation around the Government’s plans for shareholders of private companies, there wasn’t much else to note in this space other than the extension of the full expensing provisions. Full expensing forever more Introduced at the Budget 2023 as a temporary relief from 1 April 2023 to […]

Autumn Statement 2023 – Tax cut, complexity and uncertainty

It’s a tax cut, Jim, but not as we know it Having been told by successive Chancellors for as long as one can care to remember that ‘national insurance is not a tax’, it feels so wrong to claim that there has been a tax cut today – that said, to the ‘man on the […]

Autumn Statement 2023 – All change for the self-employed

The key change announced for the self-employed was the ‘headline’ abolition of Class 2 national insurance and the reduction in the rate of Class 4 national insurance, both with effect from 6 April 2024. Class 2 national insurance is a flat rate charged at £3.45 per week and is there to preserve entitlement to contributory […]