Rachel Reeves, the Chancellor of the Exchequer, has confirmed 26 March 2025 as the date for the Spring Forecast.
The Office for Budget Responsibility is required to produce two forecasts each financial year by the Budget Responsibility and National Audit Act 2011.
The Chancellor will accompany the forecast with a speech to Parliament. However, since she is committed to the stability that having only one major fiscal event a year brings, it seems that her speech is unlikely to include any major tax changes.
We will keep you posted on any developments related to the Spring Forecast. If you have any concerns or questions about how the Autumn Budget will affect your tax position for the 2025/26 tax year, please contact us at any time. We will be happy to help you!
See: https://www.gov.uk/government/news/chancellor-commissions-spring-forecast-on-26-march-2025
New laws from the beginning of the month make it critical for companies that rely on subcontractors, agency staff or complex labour supply chains to review their compliance procedures to identify employees who do not have the right to work in the UK.
The annual report from the Administrative Burdens Advisory Board (ABAB) shows a slight improvement in HMRC’s performance but there is a rising concern over legislative burden and continued difficulties with communication channels.
