This year, the Chancellor laid out his plans to back British business, promising 110 measures that will boost productivity, raise business investment, reduce inflation and increase GDP. Here we unpack the Chancellor’s key announcements from this year’s ‘Autumn Statement for growth’ and what they mean for businesses.
- Tax relief on business investments
The headline grabber for businesses this year was the move to make full expensing permanent, rather than ending in 2026 as planned. This essentially allows businesses to offset investments in new tech (IT, plant, machinery etc) against their taxable profits. This is the equivalent of saving 25p for every £1 spent. The intention here is to incentivise business investment by making it more affordable, allowing businesses to modernise, operate more productively and ultimately contribute to economic growth.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.
