Autumn Statement 2023

The Autumn Statement 2023, announced by the UK Chancellor of the Exchequer, includes 110 measures aimed at promoting growth. These measures include tax cuts for businesses and incentives for work. Key measures include making full expensing permanent, simplifying the R&D tax credit regime, introducing an exemption from the Electricity Generator Levy for new renewable generation projects, extending tax relief for Investment Zones, reducing National Insurance contributions, and extending the sunset clauses for the Enterprise Investment Scheme and Venture Capital Trust schemes. The Autumn Finance Bill 2023 will implement a number of these measures.