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Spring Budget 2023

Analysis and commentary identifying the significant tax changes and practical implications for both individuals and businesses.


Chancellor Jeremy Hunt shared his full Budget this week.

In positive news the Chancellor announced that the OBR now forecasts the UK will not enter a technical recession this year although living standards are still predicted to fall by 6% within this fiscal year and the next.

Key budget announcements included the abolishment of the Lifetime Allowance on tax-free pension contributions and the increase of tax-free annual pension allowance from £40,000 to £60,000 from 6 April 2023.

Working parents in England are set to receive 30 hours of free childcare per week, though this won’t be fully implemented until 2025.

To support the rising cost of living, fuel duty has been frozen again and help with energy bills will remain for an extra three months.

For businesses, the Chancellor also confirmed that Corporation Tax will rise from 19% to 25% from April.

Download our budget guide

 

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Budget 2023 - The impact on personal allowances

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UK tax system to foster the right conditions for enterprise

At Budget 2023 the Chancellor set out how the government plans to ensure that the UK’s tax system fosters the right conditions for enterprise.

At a glance, what Chancellor of the Exchequer, Jeremy Hunt, had to say

Chancellor of the Exchequer, on 15 March delivered his Spring Budget Statement 2023 to Parliament, we look at a summary of the key points.

Download our 2023 budget guide

Analysis and commentary identifying the significant tax changes and practical implications for both individuals and businesses.

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