On 22 November 2023, Chancellor Jeremy Hunt presented his Autumn
Statement to Parliament and started making, in his words, the
long-term decisions necessary to strengthen the economy and build a
brighter future. Fueled by falling inflation and stabilised public
finances, focus is now being applied to reducing debt, cutting tax
and rewarding hard work.
Headlines included generous National Insurance Contribution
(NIC) cuts for workers and the self-employed and the 'biggest
permanent tax cut in modern British history for businesses'.
Some other anticipated measures appear to be on hold ahead of a
full Budget next Spring and an expected 2024 general election.
Below, we talk more about the Autumn Statement headlines and
other measures announced. Please note that 'tax years' run
to 5 April each year and that, for example, 2024/25 signifies the
year to 5 April 2025.
