HEADLINES FROM THE SPRING STATEMENT
New measures will be introduced to crack down on tax avoidance and evasion, with the aim to bring in an extra £1 billion by increasing fraud prosecutions by 20%.
Following Labour’s Spring Statement on Wednesday 26 March, experts from TC Group’s accountancy and business advisory teams have broken down the key updates and budget allocations that will impact businesses and industries.
Explore the headline news, key dates, and in-depth insights into legislative changes through our series of webinars, videos, and blogs, designed to help you stay ahead, maximise tax-saving opportunities, and protect your wealth.
New measures will be introduced to crack down on tax avoidance and evasion, with the aim to bring in an extra £1 billion by increasing fraud prosecutions by 20%.
Chancellor confirmed that the tax changes announced in the 2024 Autumn Budget would proceed – many due to come into effect in April 2025.
2.5% of GDP will be spent on defence by 2027, whilst an additional investment of £2.2bn will be provided for the Ministry of Defence from 2026.
305,000 homes are targeted to be built every year until the end of the forecast period, and for 1.3 million homes to be built in total within the next 5 years.
This is within touching distance of the government’s promise to build 1.5 million homes in England.
For support and strategic planning on any of the legislation covered in the Spring Statement, get in touch today.
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