Many predicted that the Chancellor’s Autumn Statement would be the Government’s launch pad for next year’s widely anticipated general election. But that is not what we got.
We had been tempted by talk of the abolition of Inheritance Tax and the Tourism Tax (allowing tourists once again to recover VAT on luxury items they buy whilst here), and even increases in thresholds for both income tax and VAT, but none of those materialised – not even in the fine print. What we did get was a Budget that was looking more at the longer term, perhaps with one eye on an election but with a giveaway to millions of workers and businesses now.
Click the button below to read Gravita’s full commentary of the UK Government’s Autumn 2023 Statement.
If you have any questions about the 2023 Autumn Statement, please do not hesitate to contact a member of the tax team at hello@gravita.com.
