The March 2022 Spring Statement

Our review, views and opinions on the Chancellor’s Spring Statement

Dafferns 2022

Video – Dafferns’ review of the March 2022 Spring Statement

Martin Gibbs, Brian Jukes and Paige Easterlow give their take on a budget for the post Covid Britain, going it alone outside the EU.
With two Budgets and a whole load of leaked tax changes in 2021, the March 2022 one was always going to be relatively low key.
A change to employees NIC from July 2022, a reduction in the basis rate of income tax in 2024 and a modest reduction on fuel duty, will this be enough to combat soaring inflation?

With the ongoing global pandemic, climate change, the switch to electric cars, rising labour costs, supply shortages on the domestic and business fronts, the semi-conductor shortage, fuel and power costs going through the roof, on-going Brexit fallout and pressures on interest rates, it will be a difficult balancing act.

Martin Gibbs – Managing Partner

Tax Rates 2022-23

Available as a PDF download, here is our annual tax rates card for the 2022-23 tax year

  • Income Tax rates, bands and allowances
  • Individual Savings Accounts
  • Devolved Income Tax rates – Scotland and Wales
  • Capital Gain Tax rates and reliefs
  • Inheritance Tax
  • Car, van and fuel benefits
  • National Insurance
  • Selected rates
  • Tax reliefs for individuals – EIS, SEIS VCTs
  • Corporation Tax
  • Capital Allowances
  • Pensions
  • Value Added Tax
  • Property Taxes

Dafferns Tax Rates Card 2022-23

Dafferns

Budget news and blogs

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Dafferns

Corporate tax

The tax efficient salary for a director shareholder in 2022/23

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Dafferns

The 130% Super deduction on capital allowances

Mandeep Gill

Dafferns

Any relief from the rising tide in the Spring Statement?

Brian Jukes

Dafferns

Do you remember the October 2021 Budget?

Martin Gibbs

The October 2021 Budget – A Budget for the new post Covid economy, but with just about all the business and personal tax changes either pre-announced or leaked

Martin Gibbs – Managing Partner

October 2021 Budget Summary

Our Budget summary provides an overview of the key announcements arising from the Chancellor’s speech.

Additionally, throughout the summary you will find informative comments to help you assess the effect that the proposed changes may have on you personally.

Don’t forget, we can help to ensure that your accounts are accurate and fully compliant. We can also suggest strategies to minimise your tax liability and maximise your profitability.

If you would like more detailed, one-to-one advice on any of the issues raised in the Chancellor’s Budget speech, please do get in touch.

Read our Budget summary

Dafferns