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UK Chancellor delivers Spring Budget 2023

|Tax Alerts, Information Reporting, Legis ...|United Kingdom
United Kingdom

  • The United Kingdom (UK) Budget was delivered on 15 March 2023.

  • The rise in the main rate of UK corporation tax to 25% from 1 April 2023 was confirmed but there also were a number of tax incentives announced to offset the rise for certain targeted companies.

  • The UK super-deduction is to be replaced by immediate capital expensing for firms investing £1m+ a year on plant and machinery.

  • Twelve investment…

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