Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
The Chancellor of the Exchequer is due to deliver his Spring Statement on Wednesday 13 March 2019. The Lexis®PSL Tax team considers the business tax announcements and publications that could be expected on the day.
LexisPSL subscribers can access all analysis and insight on the Spring Statement 2019. If you are not a subscriber, you can take a free trial here.
On Wednesday 13 March 2019, the Chancellor is set to deliver the government’s second Spring Statement since the introduction of the new Budget timetable in autumn 2017. The publication of an annual Spring Statement was part of the move to holding Budgets in the autumn, rather than the spring. The primary purpose of the Spring Statement is to enable the government to respond to the Office of Budget Responsibility’s twice yearly economic and fiscal forecasts. The Spring Statement is also an opportunity for the government to publish consultations, including early stage calls for evidence, and is not intended to be an occasion for announcing immediate tax changes. The first Spring Statement, in March 2018, was true to this intention and did not announce any immediate tax changes, although this does remain an option if the government considers it to be necessary.
The first Spring Statement was accompanied by the publication of 13 new consultation documents. The Spring Statement of 2019 takes place at a time of high Brexit drama and it is possible that government resources being heavily directed towards preparations for Brexit could result in fewer ‘business as usual’ tax policy developments.
In light of Brexit, it is still possible that the Spring Statement could be upgraded to a full emergency Budget. Assuming that this does not happen, a ‘normal’ Spring Statement may be used to announce entirely new measures, some of which may be Brexit-related, or dependent on the ratification of a Brexit withdrawal agreement. It is also an occasion on which the government may publish responses, or next steps, relating to previous consultations
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234