📍 Autumn Statement Debrief 💼

Main takeaways for directors

👉 The National Insurance main employee rate will be cut from 12% to 10% starting from 6th January 2024;

👉 Minimum wage will be upped to £11.44 per hour (from £10.42) starting in April 2024;

👉 Corporation tax relief - Qualifying asset spending will continue to qualify for a 100% first-year allowance for main rate assets, and a 50% first-year allowance for special rate (including long life) assets.

Cars, assets for leasing and second-hand assets will continue to be excluded from the 100% and 50% first-year allowances

👉 A merger of R&D tax reliefs with the aim to simplify the scheme

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