Spring Statement 2025

Our summary of the Chancellor’s 2025 Spring Statement is now available, please click here to view.

This guide provides an overview of the key tax changes, initially announced in the Autumn Budget, that are coming into effect from April, including:

• A new residence-based tax system for foreign income and gains, scrapping the remittance basis for foreign-domiciled individuals
• Inheritance Tax (IHT) now tied to long-term residence, not domicile
• Increases in Employers’ NICs and Employment Allowance

Additionally, throughout the summary, you will find informative comments to help you assess the effect that the proposed changes may have on you personally.

If you would like more detailed, one-to-one advice on any of the issues raised in the Chancellor’s Spring Budget, please do get in touch.