S&W The Pulse

The Autumn Budget has maintained a relatively steady ship, with no major announcements in several tax areas. Focus remains on keeping the UK a competitive place for business and encouraging innovation to lead to economic growth.In today’s special episode on the UK Autumn Budget, we highlight what the key changes can mean for you personally and for your business:Business TaxesResidential property developer tax rate confirmed 4%The annual investment allowance of £1 million will continue until March 2023Enhanced and extended cultural reliefsFollowing a consultation on the R&D tax incentive schemes, two major changes have been announced:Expenditure relating to cloud computing and data will be included within eligible spendThe wider scheme is being reformed to better support and incentivise innovation taking place in the UK, and not that undertaken overseas.Income taxes & Capital TaxesNo major changes for income tax, CGT, or IHT were included in the BudgetKey change is the previously announced 1.25% increa