Same-Day 2023 Spring Budget Summary – Free Webinar

There is much expectation around the Chancellor’s Budget speech on the 15th of March.

There is no denying that Jeremy Hunt’s Autumn Statement last November was a grim outlook. But with both the Chancellor and the Prime Minister keen to demonstrate that they are more than caretakers in their roles until the next General Election, this promises to be an interesting Budget speech.

Corporation tax will increase to 25% from 1 April 2023 for all companies with profits over £50,000. Due to the negative impact this could have on international enterprise, some are predicting the government may decide to unveil a long-term rate reduction policy in their upcoming Budget on the 15th, to begin in the future with the aim of controlling the departure of multinational businesses.

The capital allowances super deduction is also due to finish next month and R&D tax credits for SMEs are being restricted too. Predictions suggest a new tax relief policy and replacement to incentivise business investment may be unveiled, potentially linked to the corporation tax changes.

The Chancellor has a difficult balancing act to perform. Having frozen many tax allowances and bands already in his Autumn Statement and still facing significant challenges.

Register for our free live webinar to be held shortly after the Budget speech summarising the key announcements from the Chancellor to be kept up to date with key financial decisions and tax changes from the government.

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