In a bold move, the Autumn Statement aims to secure £20 billion in annual business investments for the next decade.

Key highlights include:

Full expensing for businesses

• The full expensing scheme will become permanent, contributing to what the Chancellor dubbed the "largest business tax cut in modern British history".
• This measure is expected to unlock an additional £14 billion in investment for sustainable economic growth.

Business rates support package

• £4.3bn support package with frozen small business rates and extended relief for retail, hospitality and leisure, aimed at saving businesses and stimulating economic activity.

Pension reforms and investment

• Reforms targeting £75 billion financing for high-growth companies by 2030.
• Streamlining pension schemes for efficiency and cost-effectiveness, focusing on private equity.

Investments in R&D and innovation

• Over £750 million for R&D to maintain UK's science and tech leadership.
• Extended support for start-ups and SMEs until 2035.

Support for SMEs

• Measures include freezing small business rates, addressing late payments, and promoting digital adoption.
• Tax cuts for self-employed individuals and clarity on tax deductibility for training.

R&D tax relief reforms

• Significant reforms merge the two R&D schemes into one, reduce tax rates and expand eligibility criteria.
• Anticipated to provide an additional £280m in relief annually by 2028/29.

Climate change agreement scheme extension

• Allocating funds for energy-efficient technologies and tax relief to support the Government's net-zero goals.

Sector-specific announcements

• Targeted investments in advanced manufacturing, digital tech, life sciences and creative industries.
• Emphasising Government commitment to sector-specific growth.

Talk to us about how these changes affect your business.