Policy paper

Spring Budget 2023 Factsheet: Cutting & Simplifying Tax for Businesses to Invest and Grow

Factsheet covering Spring Budget 2023 measures on Capital Allowances, R&D and simplification.

• From: HM Treasury
• Published: 15 March 2023

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Spring Budget 2023 Media Factsheet: Cutting & Simplifying Tax for Businesses to Invest and Grow

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At Spring Budget 2023 the Chancellor Jeremy Hunt set out his vision to ensure that the UK’s tax system fosters the right conditions for enterprise by being one of the most competitive in the world.

To do this, the Chancellor transformed capital allowances to boost investment, increased support for R&D, and simplified the tax system for SMEs.

Published 15 March 2023