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BUDGET 15th MARCH 2023
More details can be found on www.gov.uk
Fuel - duty will be frozen again this year and the 5p reduction will stay.
Capital allowances - For the next 3 years from April 2023, you will be able to deduct 100% of all Plant & Machinery investment straight away.
Pensions - The life time allowance limit has been abolished.
Corporation Tax - increases to 25%, in 2023. Businesses with profits of £50,000 or less, will continue to be taxed at 19% and a taper above £50,000 will be introduced so that only businesses with profits greater than £250,000 will be taxed at the full 25% rate.
All budget information was sauced from HMRC website: https://www.gov.uk/government/publications/spring-budget-2023/spring-budget-2023-html
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