Spring Budget 2023: A Round-Up

Mar 16, 2023 | Budget report

Each year, we publish our Langdowns DFK report, outlining everything you need to know from the Chancellor’s announcements. This week’s Spring Budget changes include:

  • Main rate of corporation tax, paid by businesses on taxable profits over £250,000, confirmed to increase from 19% to 25%
  • Cap on amount workers can accumulate in pensions savings over their lifetime before having to pay extra tax (currently £1.07m) to be abolished
  • Tax-free yearly allowance for pension pot to rise from £40,000 to £60,000
  • 30 hours of free childcare for working parents in England expanded
  • Companies able to deduct investment in new machinery and technology to lower their taxable profits
  • Government subsidies limiting typical household energy bills to £2,500 a year extended for three months


Spring Budget 2023: A Round-Up


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