As Rachel Reeves presented the highly anticipated Spring Statement 2025 on March 26, expectations were high, with families and businesses looking for clarity and assurance on future tax and spending changes.
While there were no major tax announcements, several significant measures were unveiled including:
- Cuts to the welfare state and civil service
- Increased defence spending
- Higher taxable benefit rates for company cars
- The expansion of Making Tax Digital (MTD) to include more small businesses
- Increases to the National Living Wage (NLW) and National Minimum Wage (NMW)
For a comprehensive breakdown of all the key changes from the Spring Statement 2025, you can download our report here. You can also find more information, by visiting the gov.uk website.
If you’d like to discuss how these changes may impact you or your business, please don’t hesitate to reach out to PKB – we’re always on hand to help.
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