United Kingdom: Spring Statement 2019

March 2019

Given that this year’s Spring Statement was made in the midst of uncertainty over Brexit that is approaching crisis point, no one was expecting fireworks from the Chancellor. Philip Hammond MP, did however, use the Spring Statement to build on measures introduced in last year’s Budget and to launch consultations on a number of other policies. Notable was the confirmation that the Digital Services Tax will be introduced in April 2020 and a surprise review of R&D tax relief for SMEs that will be worrying SME business leaders.