Each year, we publish our Langdowns DFK report, outlining everything you need to know from the Chancellor’s announcements. Yesterday’s Autumn Statement changes include:
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Introduction of permanent tax relief for business capital investment, including “full expensing” giving 100% tax relief of qualifying capital expenditure
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A 2% cut to the main rate of National Insurance, impacting 27 million people, effective from paydays on or after January 6, 2024
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The consolidation of the R&D expenditure credit and SME R&D schemes, reducing the tax rate for loss-making companies from 25% to 19%
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Business rates support package: Including freezing the small business multiplier and extending Retail, Hospitality, and Leisure relief
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From April 2024, the National Living Wage will rise from £10.42 to £11.44 per hour
Autumn Statement 2023: A Round-Up
If you have any questions, please contact glovell@langdownsdfk.com.
