George Osbourne has delivered his latest budget and the following is a quick summary of some of the key points –
The threshold at which people pay 40% tax will rise from £42,385 to £45,000 in April 2017
Tax-free personal allowance to rise to £11,500 in April 2017
Capital Gains Tax to be cut from 28% to 20%, and from 18% to 10% for basic-rate taxpayers
0.5% rise in insurance premium tax to 10%
Fuel, beer, cider, and spirits duties to be frozen
Annual Isa limit to rise to £20,000
New Lifetime ISA unveiled to help savers aged under 40
If you have any questions regarding the budget please do not hesitate to get in touch.
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