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TAX NEWS

Spring Statement: will there be any tax announcements?

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Published: 15 Mar 2022 Update History

Rishi Sunak is due to deliver his Spring Statement on 23 March. ICAEW’s Tax Faculty will host a webinar on 24 March to explain what this means and the outcomes.

The Office for Budget Responsibility (OBR) has to produce an economic and fiscal forecast on at least two occasions on each financial year and the Chancellor has commissioned the next forecast update for Wednesday 23 March 2022.

Although this update is not a Budget, the Chancellor Rishi Sunak may take the opportunity to launch consultations or roadmaps for future tax policymaking. In his recent Mais lecture, Sunak hinted that cutting taxes on business investment, incentivising the right kinds of training, and ensuring that the R&D tax regime properly incentivises higher business investment in R&D are on his agenda.

Whether the statement contains a little detail on tax or whether there’s a lot, join Anita Monteith, Head of Taxation Policy and other members of the Tax Faculty team at 14:00 on Thursday 24 March for our webinar discussion which will break down the announcement. The webinar will be free to ICAEW members and Tax Faculty subscribers. Book here

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