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Spring Statement

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.

23 May 2025

Higher borrowing figures 'increase prospect of tax rises'

Experts have warned that recent higher than anticipated government borrowing figures have increased the prospect of Chancellor Rachel Reeves raising taxes at the next Budget.

22 May 2025

Chancellor confirms ISA allowance won't be cut

Chancellor Rachel Reeves has confirmed that the annual tax-free ISA allowance won't be reduced from £20,000.

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Budget report

Budget report icon

Our summary of the key announcements from the Chancellor's latest Budget .

Read about the budget

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