We are delighted to provide you with this complimentary copy of our Spring Statement report.
Our summary provides details on the range of tax cuts announced by the Chancellor, including:
- A temporary 12 month cut to duty on petrol and diesel of 5p per litre
- Increase in the primary National Insurance threshold from July 2022 to £12,570, to be in line with the frozen personal allowance
- Increase in Class 2 and Class 4 thresholds for the self-employed
- An increase in the employment allowance to £5,000 from April 2022
- A reduction in the basic rate of income tax from 20% to 19% from April 2024
We have also included a recap of the key tax changes in the forthcoming 2022/23 tax year.
We trust that you find the enclosed Spring Statement summary useful and that it is a helpful basis for a discussion with us about your financial future.