Spring Budget 2023

The UK Chancellor of the Exchequer set out the UK Spring Budget on 15 March 2023. He sought to enhance the UK’s attractiveness as a place to do business by increasing tax relief for companies making investments, introducing measures to build out the workforce, preserving the immunity of sovereign investors from UK taxation and supporting innovation. The Spring Budget also confirmed the UK’s implementation of the internationally agreed 15% minimum tax for multinational enterprises with global annual revenues exceeding EUR750 million.