Stressed by tax?
Get Earnr Pro

Spring Statement

[sprɪŋ ˈsteɪtmənt]



The Spring Statement acts as a mid-year financial review made by the Chancellor in the UK. It usually outlines how the economy has performed since the autumn.

More detail:

The Spring Statement is an annual economic update given by the Chancellor of the Exchequer in the United Kingdom. It acts as a mid-year financial review that outlines how the economy has changed and performed since the Autumn Statement was made.

It typically takes place in March.

It is not a formal budget and does include any major policy announcements. However, it is important to analyse what was said as occasionally there are changes that affect the average individual, like changes to tax rates.

Historically, the budget was announced in the Spring Statement but was moved to the Autumn Statement in 2017 to allow time for new legislation to pass before the start of the Tax Year.

Back to Taxionary

You might also like...

decorative image for a blog

What is IR35 and do I need to worry about it?

There are loads of different tax laws in the United Kingdom. IR35 is very important to freelancers and contractors but can be a little confusing. Here, we explain simply what IR35 is and who it can affect.

Read more
decorative image for a blog

Flat rates for mileage vs actual expenses. What is better?

Self-employed individuals can use two different methods to expense business vehicle costs. Here, we investigate the positive and negatives for both methods and which one might be right for you.

Read more
decorative image for a blog

What is the EIS and how does it work?

If you are looking to invest in small and medium sized businesses, the Enterprise Investment Scheme (EIS) provides lots of tax reliefs for doing so. Here we discuss what it is and how it works.

Read more
Earnr logoDownload earnr