Q&A: Spring Statement

Given the previous commitment of Rachel Reeves that there would only ever be one ‘tax event’ a year it is probably not surprising that there was no new tax raises in the Spring Statement. This is despite the fact that one could genuinely argue – with the challenges caused by President Trump’s tariffs for example – that the world is a very different place now compared to when the October budget was announced. 

However despite the absence of any actual tax rises in the budget there was still a number of interesting tax developments coming out of Ms Reeves’s statement. Some of these areas are considered below.

First the ‘bad news’...

Given the absence of any tax rises in the budget one should not be surprised that Ms Reeves didn’t announce any tax ‘giveaways’ in the Spring Statement either.  Sadly however this means...