Spring Statement Summary 2025
Spring Statement – 26 March 2025 Having set herself ‘iron-clad’ fiscal rules and the goal of holding a single fiscal event each year, the Chancellor was in a difficult position…
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Upcoming Changes to the UK Tax Treatment of Double Cab Pick-Ups for Businesses
The UK tax landscape is set to undergo some significant changes that will impact businesses using double cab pick-ups. It is important to be aware of the upcoming shifts in…
Spring Statement 2025 – Headlines
Chancellor Rachel Reeves gave her Spring Statement to the House of Commons this afternoon. Whilst not a fiscal (tax) event we can report the following headlines: We will have a…
Financial benefit of MTD could be as high as £915 million
The financial benefits of MTD for VAT could be as high as £915 million, according to analysis carried out by HMRC. Since April 2022 all VAT-registered businesses should be using MTD…
Private sector activity expected to fall
Activity in the private sector is expected to fall for the fourth consecutive quarter, according to a Growth Indicator from the Confederation of British Industry (CBI). Business volumes in the…
Businesses warn of National Insurance ‘powder keg’
The overwhelming majority of businesses say the rise in employers’ NICs will force them to change their plans, according to research by the British Chambers of Commerce (BCC). With under…
New company car advisory fuel rates
New company car advisory fuel rates have been published and took effect from 1 March 2025. The guidance states: ‘you can use the previous rates for up to one month from…
Tailored tax reliefs boost alcohol sector
The government has introduced a package of support that it says will help the alcohol sector to grow. From 1 February, draught relief has increased to knock 1p off duty…
Business tax compliance costs £15 billion a year
An increasingly complex tax system is costing UK businesses an estimated £15.4 billion a year in compliance, according to a report from the National Audit Office (NAO). HMRC’s cost of…
Rate cut brings ‘measure of relief’ to business
Businesses will get a ‘measure of relief’ after interest rates were cut by the Bank of England, says the British Chambers of Commerce (BCC). The Bank cut the base rate…
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