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Spring Statement 2022

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.

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Spring Statement 2022

Business Tax

Making Tax Digital for Business: VAT April 2022 sees the final phase of the introduction of the Making Tax Digital

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Other Matters

VAT Rates and Limits The VAT registration and deregistration thresholds will remain unchanged for a period of two years from

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