Will Wednesday’s Spring Statement put a spring back into the step of UK taxpayers?

After the bold reforms surrounding Business Property Relief, Agricultural Property Relief, Pensions, and National Insurance Contributions (NICs) for employers in the previous budget, this week’s statement offers a chance for Reeves to clarify how some of those rule changes will work now that some consultations have ended. However, what might be more welcome would be some tweaks and adjustments in favour of taxpayers, whether that be in the form of specific reliefs or exemptions to deal with some of the most contentious of changes.

Perhaps the most controversial of all the changes were the adjustments made to employers’ NICs. The impact on employers, especially within the charity sector and within public services, has raised concern. With such additional costs putting a squeeze on already tight budgets, the risk is that these changes could lead to cuts in services or the reduction of staff, undermining the work these organisations do.

With the government indicating that they only want to make major tax announcements once a year, any controversial plans to increase taxes may be minimal. Although, there are other ways that the government may look to raise funds, with rumours about increases to penalties imposed for late tax payments and tax return submissions.

We wait again to see what will prevail tomorrow and hope that we are left with more spring bloom than bust.