2023 Spring Budget

2023 Spring Budget

The Chancellor presented his 2023 Spring Budget on Wednesday the 15th of March.

Key measures the Chancellor announced include, but are not limited to:

Corporation Tax

Corporation tax rises to between 19 and 25% dependent on profits. The highest rate of 25% is reserved for businesses generating more than £250,000.

For those with profits under £50k the rate remains at 19%

Pensions

Pension tax free allowance increased from £40,000 to £60,000 and the lifetime allowance of £1m has been abolished.

The full detail on all the measures, some of which are subject to parliamentary approval, can be found on GOV.UK.

Contact us if you need help with the 2023 Spring Budget or any aspect of your Payroll or Self Assessment Tax.

Help with the 2023 Spring Budget

Contact us now if you need help with this or any other aspect of your Payroll.

Or just email us if you want our:

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Mistakes can be costly.

As can missing deadlines.

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