On Wednesday 13th March Philip Hammond delivered the Spring Statement amidst all the Brexit confusion. So what exactly did the Chancellor say and, more importantly, what did it actually mean?
What was covered in the Chancellor's speech?
In his speech he provided an update on the economy and responded to the Office for Budget Responsibility forecasts. In addition he launched consultations on various aspects of the tax system, as well as reaffirming the fundamental taxation changes which will affect businesses and individuals in the new tax year.
Spring Statement 2019 overview
We have broken the summary down into the main areas of taxation. We have also included comments on the more important changes, together with any planning points that may arise.
We hope the summary will provide you with a useful update and allow you to get to grips with the changes. If you have any questions in understanding how the changes to tax affect you, please do get in touch.
2019 Spring Statement Summary
Some Budget proposals may be subject to amendment in further Budgets and subsequent Finance Act. You should contact us before taking any action as a result of the contents of this summary.