CPA Reacts to the Chancellor’s Spring Statement

The Spring Statement Explained

The Government of the United Kingdom has typically held two major fiscal events each year – the Autumn Budget and the Spring Statement – with each updating on the economy’s performance, significant tax changes, fiscal measures and adjustments to allowances. In 2024, however, Chancellor Rachel Reeves committed to limiting major tax changes to one fiscal event a year, meaning that she had no new tax policies to introduce at the Spring Statement on…

Spring Statement: Late Payment Penalties to Rise to 10%

Taxpayers who fail to pay their income tax under self-assessment on time will face higher penalties from April 2025. As announced in the latest Spring Statement, late payment penalties are set to more than double, increasing the financial consequences for delayed tax payments. Currently, taxpayers who miss their payment deadline face a 2% penalty at 15 days, another 2% at 30 days, and a 4% penalty from day 31 onwards. However, from 1 April 2025,…

CPA Reacts to the Chancellor’s Spring Statement

Following Chancellor Rachel Reeves’ Spring Statement earlier today, Steve Mulholland, Chief Executive Officer of the Construction Plant-hire Association (CPA) said: “Today’s Spring Statement has failed … The post CPA Reacts to the Chancellor’s Spring Statement appeared first on Plant Planet.