Latest updates in UK business, finance, and tax - key highlights - A & G Credit

Latest updates in UK business, finance, and tax – key highlights

Autumn 2023 Budget Statement and tax

Autumn budget 2023 implications

Autumn Statement 2023

Earlier in November the Government set out the Autumn Statement. FULL EXPENSING relief has now been set as a permanent feature of the capital allowances regime. 

What are the rules?

Full expensing allows companies to claim 100% of the cost of certain plant and machinery, that is new and unused, against profits in the year of expenditure. 

Who can benefit from this?

Limited Companies, who pay corporation tax. 
Have a look at other capital allowances available here:

Bank of England Update

Interest rates are stabilising as inflation has started to fall. The Bank of England expects inflation to fall further this year and continue to fall towards their 2% target next year. Good news for prices rising more slowly, and interest rates not needed too increase to drastically. 

Personal tax returns deadline – 31st January 2024

With this date in mind, it is worth considering cut off dates for purchasing any capital equipment for your business in time to reduce your tax labilities. This applies to ALL businesses operating as Sole Traders, Partnerships or Limited Companies.
If you need deals to be settled and paid out before the end of a certain month to allow for VAT quarters or end of financial years, then get in touch with us sooner rather than later. We’re here to help!

Contact AG Credit

Agricultural lending for Rural and Farm Businesses

Luke at AG Credit

Our specialist Agricultural Credit Broker, Luke is available to talk you through your options on:

T:07896 315 651

Haulage and Commercial Vehicle Lending

Bridie at AG Credit

Speak to our specialist Haulage and Commercial Vehicle Credit Broker, Bridie today on:

T:07498 238 672

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AG Credit trading as Agricultural and Groundscare Credit Limited is authorised and regulated by the Financial Conduct Authority FRN 677980. We are an independent asset finance brokerage not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent financial advisors and so are unable to provide you with financial advice. Agricultural and Groundscare Credit Limited may receive payment(s) or other benefit from the finance provider if you decide to enter into an agreement with them.