There were a lot of headline grabbers in this year’s Spring Statement, but one of the biggest was the Office for Budget Responsibility’s (OBR) predictions that the UK will not enter a technical recession in 2023 – very encouraging news for businesses. There was a lot announced this time around, so here’s our handy guide to help you break down the main takeaways.
- Corporation Tax Rise
As expected, the Government pressed ahead with its rise to Corporation Tax, taking this from 19p to 25p. While businesses have had some time to prepare for this shift, it will undoubtedly still cause a ripple effect through their finances – particularly as there will be little support on energy prices in the next tax year.
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.