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HM Treasury Spring Statement 2023

The UK Government has published its Spring Budget, here are some key points:

  • fuel duty frozen - the 5p cut to fuel duty on petrol and diesel, due to end in April, kept for another year
  • tax-free yearly allowance for pension pot to rise from £40,000 to £60,000 and the abolition of the Lifetime Allowance
  • the Energy Price Guarantee (EPG) will be kept at £2,500 for an additional three months from April to June
  • main rate of corporation tax, paid by businesses on taxable profits over £250,000, confirmed to increase from 19% to 25%
  • tax boost for smaller and medium businesses

For further information please select the following links: