UK Spring Statement 2025

Analysis and commentary from AAB’s team of tax experts, identifying the key changes and outlining the practical implications of the Spring Statement 2024 for you and your business.

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• A new residence-based tax system for foreign income and gains, scrapping the remittance basis for foreign-domiciled individuals.
• Inheritance Tax (IHT) tied to long-term residence, not domicile.
• Increases in Employers’ NICs and Employment Allowance.
• Capital Gains Tax (CGT) rate increases for Business Asset Disposal Relief, Investors’ Relief, and carried interest
• The end of the Furnished Holiday Lettings regime
• Future restrictions to Agricultural and Business Property Reliefs, expected from April 2026