Jeremy Hunt opened his Autumn Statement by announcing that he was introducing “110 measures to help grow the British economy”. Fortunately for those of us listening he didn’t go into details of them all, but the message was clear that stimulating growth was a priority.

The Chancellor set out five focus areas: reducing debt; cutting tax and rewarding hard work; backing British business; building domestic and sustainable energy; and delivering world-class education.

The two headline tax measures were the full expensing of capital allowances for companies and the reduction in National Insurance contributions. Full expensing of capital allowances for companies was introduced on a temporary basis in the Spring Budget but has now been made permanent. The National Insurance reduction affects employees and the self-employed, with class 2 NIC being abolished completely and rates reducing to 8% for the self-employed and 10% for employees.

Other announcements included removing barriers to investment in infrastructure; reforms to the plannings system; more detail on the changes to the previously announced Research and Development Tax Reliefs; and measures to help small business with getting paid on time.


The information in this article was correct at the date it was first published.

However it is of a generic nature and cannot constitute advice. Specific advice should be sought before any action taken.

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Richard Verge - Tax Director


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Richard is a personal tax expert and is able to advise high net worth individuals on either immediate tax concerns or a long term plan to ensure that their affairs are structured to take advantage of the tax reliefs available.

His experience from working with HMRC ensures that he is more than adept at understanding the view from the other side, to the benefit of his clients. Richard advises entrepreneurs, owners of family businesses and partners in professional practices and provides advice on planning from both a personal and worklife perspective.

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