Spring Budget Round Up 2023

Spring budget round up 2023 TBL Accountants Southend, Essex

Spring Budget Round Up 2023

Last week Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall.

We have put together the Spring Budget 2023 highlights, including the following:

Driving Business Investment

  • Removing barriers to work

Personal Tax

  • The personal allowance
  • The marriage allowance
  • Tax bands and rates
  • Tax on savings income
  • Tax on dividends
  • Homes for Ukraine scheme
  • Pension tax limits
  • Rendering void assignments of income tax repayments


  • National Insurance Contributions (NICs)
  • Taxable benefits for company cars for 2023/24
  • Company vans
  • Reform of the Company Share Option Plan (CSOP)
  • Enterprise Management Incentives (EMI): Improvements to the process to grant options


  • Corporation tax rates
  • Capital allowances
  • Research and Development (R&D) relief
  • Making Tax Digital (MTD) for income tax
  • Accounting periods that are not aligned to tax years
  • Simplification measure for small businesses
  • Investment Zones
  • Freeports
  • Seed Enterprise Investment Scheme
  • Tax treatment of payments to farmers under the lump sum exit scheme
  • Other

Capital Taxes

  • Capital Gains Tax (CGT) rates
  • CGT annual exemption
  • Chargeable gains: separates spouses and civil partnerships
  • Other CGT changes
  • Inheritance Tax (IHT) nil rate bands
  • Estates in administration and trusts

Other matters

  • Back to work
  • Childcare
  • Universal Credit claimants
  • For disabled people and those with long-term health conditions
  • Employing older workers


  • Changes to VAT penalties and interest

Annual Tax on Enveloped Dwellings

Plastic Packaging Tax

Download your copy here

You can download your copy of the Spring Budget 2023 Overview here.

How does the budget affect you?

TBL Accountants are your local accountancy firm, operating in Southend and across Essex.

We specialise in a variety of services covering personal, business, and charity accounting.

If you want to find out more about how TBL Accountants could help you, please get in touch with our team today on 01702 466 886 or fill out a contact form.

Here for you.

Share this article