Following the Chancellor’s Spring Statement on 26 March and our same-day reactionary summary, we are pleased to share our more detailed analysis and tax tables, now available to download.
With economic conditions proving more challenging than expected – slower growth, high inflation, and rising interest rate, the Chancellor faced difficult decisions just five months after her first Budget. While there were no new tax increases, the focus shifted to spending cuts, particularly in welfare, alongside increased investment in defence and innovation. With a Spending Review scheduled for June, further changes may be on the horizon.
Against this backdrop, it remains important to regularly review your financial strategy. Now is a good time to assess short-term cash flow needs, explore investment opportunities that outpace inflation, and maximise tax-efficient allowances such as ISAs. Additionally, key measures from last autumn’s Budget take effect from 6 April, making it essential to ensure your plans reflect these changes.
Our analysis highlights the most relevant aspects of the statement and what they mean for individuals.
If you have any questions or would like to discuss any potential impact on your finances, please do not hesitate to get in touch.
Downloads:
Contact us on 0330 320 9280, email: info@cravenstreeetwealth.com or complete our online enquiry form to discuss how government policy could impact your financial plans.
The content of this article is for information only and does not constitute formal financial advice. This material is for general information only and does not constitute investment, tax, legal or other forms of advice.
References to legislation and tax is based on our understanding of United Kingdom law and HM Revenue & Customs practice at the date of publication. These may be subject to change in the future. Tax rates and reliefs may be altered. The value of tax reliefs to the investor depends on their financial circumstances. No guarantees are given regarding the effectiveness of any arrangements entered into on the basis of these comments.
You should not rely on this information to make, or refrain from making any decisions. Always obtain independent, professional advice for your own particular situation.
Craven Street Financial Planning Limited is authorised and regulated by the Financial Conduct Authority (FCA). The FC
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