Spring Statement 2026

Following the Chancellor’s Spring Statement delivered on 3 March 2026, please see below a brief overview, a more detailed overview is available
in our full Spring Statement report which can be found HERE.

As expected, the Spring Statement did not introduce major tax changes, as the government intends the main fiscal announcements to be made
during the Autumn Budget. The statement primarily focused on providing an update on the UK economy and public finances.

One notable change relates to Individual Savings Accounts (ISAs). From 6 April 2027, the amount that can be held in a cash ISA each year will be
limited to £12,000, with the remaining £8,000 of the £20,000 annual ISA allowance intended for stocks and shares investments. This restriction
will not apply to individuals aged 65 or over, who will still be able to place the full £20,000 into cash ISAs if they wish.

Aside from this, the statement largely confirmed existing measures rather than introducing new ones. Key points include:

• Income tax thresholds and the personal allowance remain frozen until April 2031.
• Corporation tax rates remain unchanged (up to 25% for larger companies).
• Various economic forecasts suggest modest growth and falling borrowing over the coming years.

If you would like to discuss how any of these changes may affect you, please feel free to contact us.