Philip Hammond presented his Spring Statement on Wednesday 13 March 2019. So, what exactly did the Chancellor say and, more importantly, what did it actually mean?

A summary of this year’s Spring Statement is now available below.

The Chancellor responded to the Office for Budget Responsibility’s economic forecasts, as well as reaffirming the fundamental taxation changes which will affect businesses and individuals in the new tax year. We have included informative comments to help you assess the likely effect that the proposed changes may have on you personally and their significance.

In our newsletter, we provide an outline of the main areas of taxation covered in the Spring Statement. We have also included our observations on the more important changes, together with any planning points that may arise.

We hope the summary will provide you with a useful update and allow you to get to grips with the changes. If you have any questions in understanding how the changes to tax affect you, please do get in touch.