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Spring Budget 2022 Introduction - News, Dunhams Accountants

Spring Statement 2022 – Introduction


Posted on: 24-03-2022

Spring Statement 2022 – Introduction

Spring Budget 2022 Review Pages:- Introduction | Highlights | Personal Tax | Business Tax | Employment | Capital Taxes | Other Matters

Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022.

In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the impact of rising prices for households and businesses.

The Chancellor will lift the starting thresholds for National Insurance contributions (NICs). He also pledged a cut to income tax in 2024. However, the Health and Social Care Levy will still be implemented in April 2022.

For businesses, there is an increase to the Employment Allowance, as well as relief from business rates on a range of green technologies and help with training and the adoption of digital technology.

You should contact us before taking any action as a result of the contents of this summary.

To see the Full Dunhams budget report download it here

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