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Spring Statement 2022 – Our team reacts

Initial reactions to the Spring Statement 2022 from our Tax experts

You can also read our more detailed analysis of the Chancellor’s announcement in our guide.

"As speculated, a 5p per litre drop in fuel duty from 6pm this evening...delay filling up your tank until later!"

Mark Ellis | VAT Partner

"NIC alignment - after years of talking about it, the NIC thresholds will finally be raised to the same level as income tax."

Daniel Kelly | Senior Manager, Human Capital

"The Chancellor made vague noises about further reform to R&D tax relief to follow in the Autumn Budget. Sounds like a good news/bad news scenario - it will likely become tougher to claim, but more relief for those who are eligible."

Chris Riley | Head of Tax

"The 20% income tax rate will reduce to 19% from April 2024, but the increase to national insurance by 1.25% will still take place from April 2022."

Catherine Heyes | Corporate Tax Partner