Category: Spring Statement

Spring Statement: How is your business affected?

Spring Statement: How is your business affected?

The Chancellor of the Exchequer, Rachel Reeves, delivered her Spring Statement last week in which she outlined the government’s economic plans, including spending decisions, tax policies and efforts to boost growth while managing public finances. The Statement came on the back of the latest forecasts prepared by the Office for Budget Responsibility (OBR).

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Green Technology

Green technology, including solar panels and heat pumps, will be exempt from business rates in England from April 2022, a year earlier than originally planned.

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Household Support Fund

The Household Support Fund will be doubled to £1billion from April 2022. The Fund will help households with the cost of essentials such as food,

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Fuel Duty

Fuel duty has been cut by 5p per litre for 12 months from 6pm on 23 March 2022.  The Treasury report that this will save

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Red pen next to a white envelope with the words "Income Tax"

Income Tax

The Chancellor has committed to reduce the basic rate of income tax from 20% to 19%, but not until 6 April 2024. Note that the Scottish

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