Autumn Statement 2023

The likely headline contents of yesterday’s Autumn Statement had been heavily trailed and in particular, the prospect of a reduction in Inheritance Tax (IHT) hotly debated. However, in the event, no announcements were forthcoming, so we assume that topic may make an appearance at a later date, possibly as part of the Conservative Party’s manifesto pledges prior to the next election.

The focus was on tax cutting, with the Statement announcing tax breaks for businesses and cuts in National Insurance, including the abolition of flat rate Class 2 NICs for the self-employed.

To access a summary of the Chancellor’s statement, please click on this link.