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What does the Spring Budget 2023 mean for UK business

15 Mar, 2023
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Tim Mansell
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Tim Mansell

Businesses can benefit from grants to purchase new IT equipment, as well as tax credits for research and development.

The spring budget 2023 announced by UK Chancellor, Jeremy Hunt on the 15th March 2023 has been met with approval from businesses across the country.

In particular, the budget has been praised for its focus on IT companies, which are set to benefit from a range of measures designed to encourage investment and collaboration. There are plans to introduce a new tax relief scheme for companies that invest in IT, as well as a new £2 billion fund to support businesses that are looking to work with IT companies, providing organisations across the country with a greater ability to invest in IT.

Businesses can benefit from grants to purchase new IT equipment, as well as tax credits for research and development. Additionally, the budget includes measures to reduce the cost of IT services and products, making it more affordable for businesses to invest in technology.

This is welcome news for UK business as it will help create jobs and stimulate economic growth. Furthermore, the budget will also provide additional support for businesses that are looking to invest in digital transformation and other technologies.

The spring budget 2023 looks set to be a positive step forward for UK businesses. Given the range of tax incentives and grants announced, designed to help businesses grow and develop, it is clear that the spring budget 2023 is set to open up some fantastic opportunities for companies to invest in IT in the near future.


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