The UK Chancellor Jeremy Hunt has delivered the much anticipated Autumn Statement 2022 following a period of political and economic instability in the UK.

The Autumn Statement 2022 comes at a difficult time for the UK economy with inflation at its highest rate for decades and a significantly increased budget deficit forecast. In view of this, the Chancellor has made clear that both spending cuts and increased tax revenues are required to reduce the “fiscal black hole”.

In our latest podcast, London Tax partners Paul Davison and Jill Gatehouse and London Tax senior associate Josh Critchlow discuss the business tax measures they found the most noteworthy in the Autumn Statement 2022, including: 

• Changes to the Energy Profits Levy – the windfall tax on oil and gas companies enacted in Summer 2022;