Craig Simpson, Tax Partner at Bates Weston, considers the announcement that full expensing will be permanent, made in the Chancellor’s Autumn statement. What does permanent actually mean?
The headlines from the Autumn Statement 2023 and a more detailed summary. Covers National Insurance, Capital allowances, Business rates and R & D.
Will the Chancellor use Corporation Tax measures in reducing business taxation in the Autumn Statement? He could reduce the rate of Corporation Tax, extend the Corporation Tax Bands and/or extend full expensing? Craig Simpson, Tax Partner at Bates Weston gives his views.
The key issues that make the super deduction capital allowance, not quite so super after all.