{"id":28283,"date":"2025-03-27T09:52:11","date_gmt":"2025-03-27T09:52:11","guid":{"rendered":"https:\/\/smh.group\/?p=28283"},"modified":"2025-05-14T14:10:06","modified_gmt":"2025-05-14T13:10:06","slug":"2025-spring-statement","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/2025-spring-statement\/","title":{"rendered":"2025 Spring Statement"},"content":{"rendered":"

The Chancellor, Rachel Reeves, has delivered her Spring Statement against a backdrop of weak economic growth, rising borrowing costs and limited fiscal headroom.<\/strong><\/p>\n

Unlike the Autumn 2024 Budget, this Statement introduced no new tax rises. Instead, the focus was on spending restraint, targeted welfare reform and improving tax compliance to help maintain the government\u2019s commitment to a balanced current budget by 2029\/30.<\/p>\n

While labelled by some as a “mini-Budget,” the measures announced are set to impact public services, benefits and HMRC operations in the years ahead.<\/p>\n

Some of the highlights were:<\/p>\n

– Government departments will face a 15% cut to administrative budgets by the end of the decade, with overall spending growth capped at 1.2% in real terms.<\/p>\n

–\u00a0 A \u00a33.25 billion Transformation Fund will support reform across key public services.<\/p>\n

–\u00a0 From November 2026, Personal Independence Payment (PIP) eligibility rules will tighten, while changes to Universal Credit will include freezing the Health Element for new claimants.<\/p>\n

–\u00a0 HMRC will recruit over 1,100 new staff and increase use of third-party debt collection, with late payment penalties also set to rise from April 2025.<\/p>\n

–\u00a0 Making Tax Digital will be extended to those with income over \u00a320,000 from April 2028.<\/p>\n

As always, the Spring Statement included further consultations and detailed policy updates. Read our full guide to explore the key announcements and what they could mean for you.<\/p>\n

Download our Spring Statement 2025 Summary here<\/strong><\/a><\/h3>\n

Download our 2025\/26 tax tables here<\/u><\/strong><\/a><\/h3>\n

If you have any questions about how the Spring Statement may affect you or your business, please get in touch with your local office or email us at info@smh.group<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Chancellor, Rachel Reeves, has delivered her Spring Statement against a backdrop of weak economic growth, rising borrowing costs and limited fiscal headroom. Unlike the Autumn 2024 Budget, this Statement introduced no new tax rises. Instead, the focus was on spending restraint, targeted welfare reform and improving tax compliance to help maintain the government\u2019s commitment to a balanced current budget by 2029\/30. While labelled by some as a “mini-Budget,” the measures announced are set to impact public services, benefits and HMRC operations in the years ahead. Some of the highlights were: – Government departments will face a 15% cut to administrative budgets by the end of the decade, with overall spending growth capped at 1.2% in real terms. –\u00a0 A \u00a33.25 billion Transformation Fund will support reform across key public services. –\u00a0 From November 2026, Personal Independence Payment (PIP) eligibility rules will tighten, while changes to Universal Credit will include freezing the Health Element for new claimants. –\u00a0 HMRC will recruit over 1,100 new staff and increase use of third-party debt collection, with late payment penalties also set to rise from April 2025. –\u00a0 Making Tax Digital will be extended to those with income over \u00a320,000 from April 2028. As […]<\/p>\n","protected":false},"author":4,"featured_media":28285,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[257,1393],"class_list":["post-28283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smh","tag-spring-statement","tag-spring-statement-2025"],"acf":[],"yoast_head":"\n2025 Spring Statement - SMH Group<\/title>\n<meta name=\"description\" content=\"Rachel Reeves, has delivered her Spring Statement against a backdrop of weak economic growth and rising borrowing costs.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2025 Spring Statement - SMH Group\" \/>\n<meta property=\"og:description\" content=\"Rachel Reeves, has delivered her Spring Statement against a backdrop of weak economic growth and rising borrowing costs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/2025-spring-statement\/\" \/>\n<meta property=\"og:site_name\" content=\"SMH Group\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-27T09:52:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-14T13:10:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2025\/03\/spring-statement-2025-website.png\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"648\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Brendan Hall\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brendan Hall\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/2025-spring-statement\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/2025-spring-statement\/\"},\"author\":{\"name\":\"Brendan Hall\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e\"},\"headline\":\"2025 Spring Statement\",\"datePublished\":\"2025-03-27T09:52:11+00:00\",\"dateModified\":\"2025-05-14T13:10:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/2025-spring-statement\/\"},\"wordCount\":262,\"image\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/2025-spring-statement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2025\/03\/spring-statement-2025-website.png\",\"keywords\":[\"Spring Statement\",\"spring statement 2025\"],\"articleSection\":[\"SMH\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/2025-spring-statement\/\",\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/2025-spring-statement\/\",\"name\":\"2025 Spring Statement - 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