OrbitaxUK Autumn Statement Includes Reduced NIC Rates, Permanent Full Expensing for Qualifying Investments, Merger of R&D Tax Reliefs, and Several Other Measures
|Proposed Changes|United Kingdom
UK Chancellor of the Exchequer Jeremy Hunt delivered the Autumn Statement 2023 on 22 November 2023. Some of the main tax measures are summarized in the Autumn Statement as follows. Further details are available in the Overview of tax legislation and rates (OOTLAR).
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Cutting taxes and rewarding hard work
National Insurance contributions (NICs) rates – The government will cut the main r…
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