BSR Bespoke - Spring Statement 2022 Summary
Posted on March 24, 2022

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.

Download the Spring Statement 2022