2022–23—Spring Statement, Budget and Finance Bill

This subtopic draws together content on the fiscal events throughout the tax year 2022–23 starting with the Spring Statement on 23 March 2022 to the passage through Parliament of Finance Act 2023. For more information on the annual Budget and Finance Bill process, see Practice Note: The Budget and Finance Bill process.

All the analysis produced in this subtopic will be collected in Practice Note: 2022–23—Spring Statement, Budget and Finance Bill—Private Client analysis.

For information on the progress of the Autumn Finance Bill 2022 and (when published) the Spring Finance Bill 2023, detailing their progress through Parliament towards Royal Assent and describing their key provisions, see: Tax—Finance Bills 2022–23 tracker.

Spring Budget 2023

The Spring Budget 2023 is due to be delivered on 15 March 2023.

Autumn Finance Bill 2022 and Spring Finance Bill 2023

The Autumn Statement document confirmed that there would be two finance bills—Autumn

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Latest Private Client News

Private Client weekly highlights—5 December 2024

This week’s edition of Private Client highlights includes: (1) the Office of the Public Guardian upgrades processing time for LPA applications; (2) Newfield v Revenue and Customs Commissioners, in which the UT held that the appellant failed to satisfy the Ladd v Marshall test for admitting new evidence on appeal regarding the existence of a trust; (3) HMRC v The Taxpayer, where the UT considered a taxpayer’s application for permanent anonymity and third party disclosure request; (4) Lefort v HMRC, in which the Tribunal upheld HMRC’s Fixed Protection revocation, notwithstanding the taxpayer having been mistaken in continuing to make pension contributions after 6 April 2014; (5) Malik v Malik, in which the court upheld a defence for adverse possession by way of estoppel; (6) the Scottish government launches a consultation on digital assets and publishes its budget for 2025–26; and (7) MPs vote in favour of Assisted Dying Bill.

OSCR reminds Scottish charities to submit annual returns and issues caution for non-compliance

The Scottish Charity Regulator (OSCR) has reminded charities in Scotland of their legal duty to file and electronically submit all annual return documentation, including an external review report within nine months after their financial year end. OSCR highlights the importance of submitting these documents timeously, emphasising that delayed submissions will be visible on the Scottish Charity Register and the regulator would also exercise its power of removal should charities fail to comply accordingly.

Question of the week: An individual (A) owns a commercial property which is let to a third party. A settles a 90% share of it on himself for his lifetime and thereafter for his adult children absolutely in remainder. He retains the remaining 10% share outright. Do the gift with reservation of benefit rules apply? Would the pre-owned assets tax rules apply if the property is ever sold?

This Q&A consider whether if, an individual (A) owns a commercial property which is let to a third party. A settles a 90% share of it on himself for his lifetime and thereafter for his adult children absolutely in remainder. He retains the remaining 10% share outright. Do the gift with reservation of benefit rules apply. It also considers whether the pre-owned assets tax rules would apply if the property is ever sold.

OPG upgrades processing time for LPA applications

The Office of the Public Guardian (OPG) has announced that, as of 2 December 2024, the updated processing time for lasting power of attorney (LPA) applications is eight to ten weeks, reducing from 16 weeks. This includes a statutory waiting period of four weeks.