Autumn Statement 2023

Chancellor Jeremy Hunt delivered his Autumn Statement on Wednesday 22 November, in one of the last fiscal events before the General Election.

Headline measures included the permanent extension of full expensing, enabling businesses to reduce their corporation tax liability by offsetting 100% of their investment in new plant and machinery against profits.

Freeport tax reliefs and a business rates discount for retail, hospitality and leisure businesses were also extended.

The Chancellor also announced a 2% cut in employee National Insurance, the abolition of Class 2 National Insurance contributions for the self-employed and an increase in the National Living Wage.

Our experts are analysing what the latest tax changes mean for our clients – their insights and commentary will be published below.