MT Week - Five things you might want to do after the Spring Statement
This week, Chancellor Rishi Sunak unveiled his Spring Statement and there are a few major changes.
The most immediate of which was fuel duty: it’s been reduced by 5p per litre. At the same time, taxes on alcohol, cigarettes and other tobacco products have been frozen.
The Household Support Fund - which was designed to support families financially over winter - has also been extended and expanded.
Then in April, there will be a reduction in VAT for home insulation, heat pumps and solar panels.
And in July, the threshold for paying National Insurance (NI) will be raised to £12,500.
Although for a reduction in income tax, we’ll have to wait until 2024.
With so many changes happening, I wanted to look at some of the changes you might want to make, too.
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