Today’s Spring Budget, presented by Rachel Reeves, introduced several measures that will impact individuals and businesses alike. While some announcements bring opportunities, others highlight the need for careful planning. Here are the key points our clients should be aware of:
Tax Changes and Implications
The Budget included changes that will affect higher earners, with adjustments to taxation that may increase the burden on those in this income bracket. If you’re earning around £100K or above, it will be important to review your financial plans to ensure you are making the most of available reliefs and allowances.
Support for Businesses
Measures aimed at supporting businesses were also introduced, including incentives designed to encourage investment and growth. While these may provide helpful opportunities for some, the practical impact will vary depending on individual circumstances. We recommend reviewing these changes to assess how your business can benefit.
Public Services and Funding
Additional investment in public services was announced, funded in part by changes to taxation. While this aims to support key sectors, it reinforces the importance of strategic planning for both businesses and individuals to manage potential impacts on cash flow and disposable income.
Next Steps
We are committed to helping our clients navigate these changes. Whether it’s reviewing your tax position, exploring share-based reward schemes, or identifying opportunities for growth, we are here to provide tailored advice and support. Take a look at our budget summary for more information.
If you would like to discuss what today’s announcements mean for you or your business, please get in touch with our team.