Autumn Statement 2023
Chancellor Jeremy Hunt used his Autumn Statement speech to deliver a fiscal pick-me-up to the Conservative backbenchers at the start of an election year with cuts to national insurance.
This afternoon’s Autumn Statement was somewhat of a step change compared to the sobering state of the economy this time last year, where the Chancellor used his fiscal speech to brace the UK for the “storm” of tax rises.
Instead, Hunt was able to today bring forward national insurance tax cuts, having been handed a fiscal windfall of about £26bn to play with after inflation fell to 4.6% in October. Hunt also confirmed incentives to encourage business investment such as extending the full expensing initiative beyond 2026.
AccountingWEB, in association with PracticeWeb, has looked at the key measures and what they mean for you and your clients, with expert analysis from tax titans such as Paul Aplin, Rebecca Cave, Amy Chin, Philip Fisher, Ian Holloway and more.
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