Jeremy Hunt’s second Autumn Statement was set against a much less financially turbulent background than his first. However, politics still loomed large with a likely election in the next 12 months prompting calls for tax cuts from within the Conservative party.

Over time businesses grow, develop and change so it can be a good idea to reorganise or rationalise the business structure. This process has a whole host of benefits across the business lifecycle, such as minimising risk, cost savings and the simplification of processes.

There is a wealth of opportunities for companies that plan to do business internationally. This guide aims to help you to grow your business through international markets. It covers points to consider before expanding abroad, support available and tips and advice when considering foreign markets.

After years of hard work and building your business, handing over the reins and leaving your business can be daunting. Whether you’re selling your business, passing it onto family or considering an IPO, our guide on planning your exit will help you tackle this critical stage in your business lifecycle.

While the majority of the 2023/24 tax rates were released in the autumn, some changes involved unwinding the announcements of Mr Hunt’s predecessor. With inflation and cost of living concerns foremost for the majority of individual and business taxpayers, the Chancellor needed to balance longer-term economic imperatives with perhaps shorter-term political concerns.

The first Budget since October 2021 was widely expected to be an uneventful affair. Five months ago, the then new Chancellor, Jeremy Hunt, presented an Autumn Statement that was more of a Budget than many formal Budgets. Not only did his Autumn Statement result in a greater increase in the tax burden than most Budgets – £55 billion by 2027/28 – it was also accompanied by a Finance Bill.

The main goal of many business owners is to build a business which they will eventually sell or pass on to family members. Therefore, building and increasing business value is an important consideration as you run your business and when you’re making major business decisions.

After a fiscally turbulent year – including September’s mini-Budget which Rishi Sunak’s new government rapidly unpicked – tax rises, both overt and stealthy, are the order of the day.

The Spring Budget in March 2023 relaxed the limits on contributing to pension savings for individuals and their employers and removed the lifetime limit on the value of tax-efficient pension pots. The bad news is that the threshold for 45% tax was lowered to £125,140 from April 2023, and for taxpayers in Scotland the highest rate of tax above that threshold was raised to 47%.

Although the rates of national insurance contributions (NICs) for 2023/24 are back down to what they were for 2021/22, fringe benefits still have a definite tax advantage when compared to conventional salary. Even if there is not much, if anything, in the way of income tax saving, directors and employees can avoid NICs. Certain tax-advantaged fringe benefits will also mean no, or little, NICs for the employer, with these types of benefit particularly suited to a salary sacrifice arrangement.

Despite government ambitions to reduce income tax rates, the overall tax burden is likely to remain at an historically high level for the foreseeable future, with higher earners continuing to shoulder most of the burden. Higher and additional rate taxpayers currently pay over two thirds of all income tax.

Anyone contemplating starting a new business, especially a bricks and mortar one, needs to be wary of current economic conditions, especially with reduced government support for energy costs from 1 April onwards. Many small firms are struggling, and a high percentage feel they are at risk of closure during 2023; supply chain delays being a particular problem.

For companies, the 130% super-deduction has been replaced with a 100% first-year allowance from 1 April 2023 for a three-year period. A 100% allowance effectively means full expensing for qualifying capital expenditure. The 50% first-year allowance for special rate pool expenditure, which was set to expire on 31 March 2023, has also been extended for a further three years.

The property outlook for landlords remains somewhat contradictory. On the one hand, rents are at record highs, but set against this, property prices have fallen for seven consecutive months to March 2023, mortgage costs remain high and further regulation is on the cards. Although there are some signs of improvement in the property market, the forecast for 2023 is a price fall of anything between 5% and 10%. Given that a fixed rate of 4.2% is currently available on a three-year government savings bond – with none of the hassle that comes with property ownership – it is no surprise that a number of landlords are selling up.