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Spring Statement

An overview of the Chancellor's announcements.

Download the Spring Statement 2025 (pdf)

Introduction

Chancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025.

Government spending announcements

Highlighting national security, state reform and growth.

Personal Tax

Highlighting income tax, pensions and non-UK domiciled individuals.

National Insurance contributions

Highlighting employees, employers and the self-employed.

Employment

Highlighting the National Living Wage, the National Minimum Wage and company cars.

Capital taxes

Highlighting capital gains tax and inheritance tax.

Business

Highlighting MTD for income tax, corporation tax, capital allowances and Furnished Holiday Lettings.

Other matters

Highlighting consultations and VAT.

Latest news

19 Jun 2025

Third of businesses planning job cuts due to NI rise

Research carried out by market research firm Censuswide has revealed that a third of business owners are planning to cut jobs as a result of rising employer National Insurance Contributions (NICs).