The Chancellor presented two Budgets in 2021 in which he set out a great many details of the tax rates and rules that will apply until April 2026. The 2022 Spring Statement was expected to review the economic situation and adjust forecasts, but was not supposed to include anything significant about tax. Of course, things have changed dramatically since October: there is a war in Ukraine, energy prices are rising sharply and inflation has returned to levels last seen in the early 1990s.
A Budget for the new age was how it was billed. Governments' focus being on economic growth post COVID19. The Chancellor had already announced the corporation tax increase and the health and social care levy. The key budget points are highlighted below and in more detail in our budget booklet on our website.
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