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 […]
Budget 2023 – everywhere, but not quite everything
In what was the first (and hopefully last) budget of 2023, there was a focus on growth being supported by the Chancellor’s four pillars – enterprise, employment, education and everywhere… not quite everything everywhere all at once, but there were some promises to review and reform the self-assessment for small businesses and sole traders which […]
Budget 2023 – spend and save for businesses
With the upcoming increase in the rate of corporation tax, the Chancellor was under pressure to do something to take the edge off it. An incentive to invest The main move was to incentivise business investment with the announcement of a full expensing policy for qualifying plant and machinery – this was both in an […]
Autumn Statement 2022 – no rabbits pulled out of hats but plenty of fiscal drag
After the debacle of eight weeks ago, the announcements by the Chancellor today were never going be so radical as to cause concern in the markets, but we all knew that there would be some element of revenue raising, we just didn’t know which taxes would rise and by how much. On a positive note, […]
Autumn Budget 2022 – a step back in time
What a month, what a week, what a day! An emergency statement by the Chancellor this morning, in order to prevent further speculation and help settle the markets in advance of the fiscal statement due on 31 October 2022, has taken us back in time to where we were less than a month ago in […]
Autumn Budget 2022 – the saga continues
The old adage of, “nothing in life is certain except for death and taxes” has never been so far from the truth! In the last two weeks, we have had the mini-budget which announced major tax cuts and caused major instability in the financial markets as well as the general UK economy; the reversal of the […]
Autumn Budget 2022 – the mini-budget that packed a punch!
Today was always going to be an interesting day – a new Government setting the tone of how they intend to govern, the ongoing cost of living crisis, the recent unlimited commitment to support taxpayers with their energy bills and talk of the UK heading towards (if not already in) recession. It was clear that […]
Autumn Budget 2021 – the tax Budget that never was!
You can never truly know the content of the Budget until the Chancellor has sat down and you get to grips with all of the publications generated by HM Treasury, even in this day and age, when numerous announcements are leaked to the press in the run up to the big day. Often those publications […]