As chancellor Philip Hammond himself put it, the Spring Budget on 8 March was his “first and last”.

From this year onwards the Budget in November is now widely expected to be the main event of a financial adviser's tax planning calendar.

This could explain why there were relatively few major announcements when Mr Hammond stepped up to the despatch box last week.

Although given Mr Hammond has already backtracked on one of his major Budget policy measures there has been now been speculation that "last Spring Budget" really could just mean last Budget for this chancellor.

Only one week after the Budget, on 15 March, the chancellor announced he was scrapping the National Insurance increase for the self-employed - a policy that was seen as hitting Tory voters and one that proved to be immensely unpopular among his own party's MPs.

But while he has shocked many this week with his sudden U-turn, on the day of the Budget he chose not to follow former chancellor George Osborne’s trick of pulling a rabbit out of the hat. 

Unfortunately he did borrow Mr Osborne’s penchant for cracking jokes at the opposition’s expense.

Some of the main measures in the statement were aimed at the self-employed, while he also took a swipe at the tax-free dividend allowance.

But pensions and housing were notably absent from this Budget, even though many in the pensions industry had hoped to see the Money Purchase Annual Allowance cut that was announced in the Autumn Statement reversed.

Nevertheless, there were ramifications for many advisers and their clients as social care featured quite heavily in the Budget, as did tax and protection.

As Ben Kumar, investment manager at 7IM, noted: “The policy changes he did announce were well-telegraphed ahead of time. 

“The word ‘fairness’ was used a lot, and this Budget was really a collection of small tweaks, focussed on addressing social issues.

"Overall, it was a bit of a holding pattern of a Budget – probably to be expected from a government that is facing economic uncertainty in the near future, feels little pressure from the opposition, and is worried about social inequality.”

There was one glaring omission from Mr Hammond’s speech – Brexit. 

Neil Williams, group chief economist at Hermes Investment Management, said: “Sterling’s fall since the Brexit vote has so far cushioned the economic blow, allowing him [Mr Hammond] a sunnier growth outlook for this year, and more optimistic tax-take. 

“But with the economy still vulnerable in what will be years of twists and turns in the negotiations, markets may approve from a macro perspective of his pocketing the windfall till it’s needed most.”

Mr Williams cautions: “Yet, with borrowing stubbornly high and Brexit looming, his fiscal-guard’s still up, with the squeeze just deferred.

"Even with the £23.5bn lobbed off his borrowing plans over five years, Brexit savings will not be enough to counter the approaching £100bn extra still needed, relative to this time last year,” he explained.

This guide aims to highlight the major and minor announcements that were made by the chancellor in his Budget across investment, taxation, social care and pensions, plus insurance. This guide will explain how the Spring Budget announcements might affect you and your clients.

Contributors of content include: Ben Kumar, investment manager at 7IM; Neil Williams, chief economist at Hermes Investment Management; Richard Buxton, head of UK equities at Old Mutual Global Investors; Tom Selby, senior analyst at AJ Bell; Ben Russon, vice president and portfolio manager of Franklin UK equity team; Lee Cameron, head of technical at Prudential; Richard Stone, chief executive at The Share Centre; Adrian Lowcock, investment director at Architas; Richard Flax, chief investment officer at Moneyfarm; Bob Champion, chairman of the Later Life Academy; Mike Gordon, technical director at Rutherford Wilkinson; Steve Webb, policy director at Royal London; Gordon Andrews, financial planning expert at Old Mutual Wealth; Tom McPhail, head of pensions research at Hargreaves Lansdown; Richard Parkin, head of pensions policy at Fidelity International; Simon Nicole, pensions principal at Thomas Miller Investment; Mike Amey, head of sterling portfolio management for Pimco UK; Rosie Bullard, investment manager at James Hambro & Partners; Sue Moore, technical director for the Institute of Chartered Accountants in England and Wales; Chris Leyland, deputy chief Investment officer at True Potential Investments; David Hollingworth, associate director of communications at London & Country Mortgages; Tina Riches, national tax partner at Smith & Williamson; and Keith Street, vice-chairman of group lending for The Northview Group.

eleanor.duncan@ft.com