On 26 March 2025 the Spring Statement was presented by the Chancellor, Rachel Reeves. The statement included news of spending cuts across the benefits system and the public sector, as well as updates on the expansion of the Making Tax Digital (MTD) for Income Tax project. From April 2028, sole traders and landlords with income over £20,000 will be included.
As anticipated, there were no further tax increases announced. However, the spending cuts are likely to have significant implications for the UK economy.
For a more detailed overview of the key points for individuals and businesses, you can download our Spring Statement Summary using the link below.
