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Chancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025.
Chancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025. In the run up to the event, the Chancellor stated that she 'remains committed to one major fiscal event a year to give families and businesses stability and certainty on upcoming tax and spending changes and, in turn, to support the government's growth mission'.
The Chancellor did meet her commitment that there would be no major tax announcements but tax is only one side of the equation. The other is spending and the Spring Statement confirmed a number of the measures recently announced, namely:
There were also announcements about the rollout of the Making Tax Digital (MTD) for Income Tax project.
A lack of trust and a shortage of expertise at board level are limiting the adoption of AI in UK businesses, according to research from the Institute of Directors (IoD).
Chancellor Rachel Reeves has said British businesses will be supported in trading freely as she takes action on practices that undercut fair trade, such as the dumping of cheap goods into the UK.
Figures published by HMRC have revealed that Inheritance Tax (IHT) receipts reached a record £8.2 billion in the 2024/25 tax year as a result of rising asset values.