Rishi Sunak presented his Spring Statement on Wednesday 23 March 2022. So, what exactly did the Chancellor say and, more importantly, what did it actually mean?
The Chancellor responded to the Office for Budget Responsibility’s economic forecasts, as well as reaffirming the fundamental taxation changes which will affect businesses and individuals in the new tax year.
Our summary includes an outline of the main areas of taxation covered in the Spring Statement. We have also added our observations on the more important changes affecting you and your business, together with any planning points that may arise.
In addition, we have included a detailed calendar of the most important dates for 2022/23 that will help you with tax planning ahead of time.
We hope the summary provides you with a useful update and enables you to better understand the changes.