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Spring Statement

An overview of the Chancellor's announcements.

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.

24 Nov 2025

VAT reform could raise £80 billion a year, claims ICAEW

The Chancellor could raise billions by reforming UK's 'outdated and overly complex' VAT system, claims the Institute of Chartered Accountants in England and Wales (ICAEW).

21 Nov 2025

Bank deposit protection limit to be increased to £120,000

UK bank customers will benefit from an increase to the maximum amount they would be reimbursed for if their bank were to fail from 1 December, the Prudential Regulation Authority (PRA) has confirmed.

20 Nov 2025

AI tools giving risky consumer advice, warns Which?

AI tools including Chat GPT, Gemini and Meta AI are giving inaccurate, unclear and risky advice which could prove costly if followed, warns consumer champion Which?.
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